Voronoi Inc. on Monday announced that it will sell stock to raise 45 billion won (US$35.1 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 1.28 million common shares at a price of 34,950 won per share. The stock will be sold to the firm’s shareholders.

Source: Yonhap News Agency