TAIPEI, Jan. 25, 2022 /PRNewswire/ -- GigaMedia Limited
(NASDAQ: GIGM) today announced that, on January 21, 2022, the Company has received the
certificates of the 735,835 shares of the Series B preferred shares
issued by Aeolus Robotics Corporation ("Aeolus"), as a result of
its conversion of 20% of the US$10,000,000 principal amount convertible
promissory note (the "Note") issued by Aeolus.
The conversion was exercised in accordance with the right under
the Note and was in the amount of US$2,000,000 at the conversion price of
US$2.718 per share, effective
December 30, 2021. After the
conversion, the outstanding principal amount under the Note is
US$8,000,000.
About GigaMedia
Headquartered in Taipei,
Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is
a diversified provider of digital entertainment services in
Taiwan and Hong Kong. GigaMedia's digital entertainment
service business is an innovative leader in Asia with growing capabilities of development,
distribution and operation of digital entertainments, as well as
platform services for games with a focus on mobile games and casual
games. More information on GigaMedia can be obtained from
www.gigamedia.com.tw.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in April 2021.
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SOURCE GigaMedia