Mirae Asset Injects $35M Into Korbit Operator Digital X After Takeover

TLDR

• Mirae Asset plans a $35M capital injection into Korbit operator Digital X.

• Digital X will issue over 10 million new shares to Mirae Asset Consulting.

• The funding will strengthen Digital X finances and support operating needs.

• Mirae Asset controls 97.15% of Digital X after completing the Korbit deal.

• Digital X will anchor Mirae Asset’s push into traditional and digital assets.

Mirae Asset will inject about $35 million into Digital X, the operator of South Korean crypto exchange Korbit. The capital increase follows Mirae Asset’s recent takeover and Digital X’s corporate rebranding this week. The funding will strengthen finances and support the group’s broader digital asset expansion strategy.

Digital X approved the capital increase during a board meeting held on August 12. The company will issue 10,078,614 new common shares at 4,961 won per share. The transaction will raise about 50 billion won, equivalent to roughly $35 million.

Mirae Asset Consulting will receive all newly issued shares through a third-party allocation. The affiliate already controls 97.15% of Digital X following the completed acquisition. Payment for the new shares is scheduled for August 27.

… Continue reading the full article at the original source below.