DigitalX, the operator of South Korean crypto exchange Korbit and a newly acquired affiliate of Mirae Asset Group, has reportedly resolved to raise roughly 50 billion Korean won ($35.3 million) through a capital increase.
According to South Korean news agency News1, DigitalX's board of directors approved the issuance of more than 10 million new common shares at 4,961 won ($3.5) per share.
The entire issuance will reportedly be allotted to Mirae Asset Consulting, which owns DigitalX.
Payment is due on Aug. 27, News1 reported.
DigitalX stated that the funds will be used to improve its financial structure and address urgent management needs, per the report.
