[Alpha Biz= Kim Sangjin] SeAH Steel Holdings' U.S. subsidiary, SeAH Superalloy Technologies, LLC, is planning to raise $108.5 million (approximately 1.58 trillion KRW) through a capital increase.
According to a public disclosure on January 9, the capital increase will be conducted via a third-party allotment, with the issuance of redeemable convertible preferred stocks (RCPS). The funds raised will be provided by SeAH Changwon Special Steel, a fully owned subsidiary of SeAH Steel Holdings.
This investment will allow SeAH Superalloy Technologies to enter the U.S. superalloy materials market. Superalloys, known for their high resistance to heat and corrosion, are used in aerospace, military, and energy industries. The investment aligns with the new U.S. administration's "America First" policy, positioning SeAH Steel to capitalize on growing demand in these sectors.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
