DigitalX Seeks $35.3 Million Through Common Share Issuance
#### Standfirst
South Korean crypto exchange DigitalX has approved a capital increase by issuing over 10 million new common shares at 4,961 won each to its affiliate Mirae Asset Consulting. The move aims to improve financial structure and address urgent management needs.
DigitalX, a South Korean cryptocurrency exchange operator, has announced a significant capital increase through the issuance of over 10 million new common shares at an issue price of approximately $0.496 per share to its affiliate Mirae Asset Consulting. This transaction is expected to raise approximately $35.3 million for DigitalX. The funds are intended to be used primarily to enhance the company’s financial structure and tackle immediate management challenges.
The affiliation between DigitalX and Mirae Asset Consulting indicates a strategic move to leverage resources from within the Mirae Asset Group, which recently acquired Korbit, another South Korean crypto exchange, in July 2023. This capital infusion underscores DigitalX’s efforts to strengthen its position amidst ongoing industry dynamics and regulatory scrutiny.
The transaction has not been previously reported, and no quotations or statements directly linked to this development have surfaced as of now.
Written by Rebecca Shaw
Industry Desk
