ITOXI Corp. announced a private placement to issue Series 15 Bearer-Bearing Interest-Bearing, Unsecured Convertible Bonds for the gross proceeds of KRW 6,500,000,000 on March 5, 2024. The transaction will include participation from new investors Baytree Co., Ltd. for KRW 3,000,000,000, CDMS for KRW 1,000,000,000, Dynamic Deco Metal for KRW 1,000,000,000, Kyungmi Kim for KRW 300,000,000, Eunbok Lee for KRW 200,000,000, Yujeong Noh for KRW 200,000,000, Jiyoon Heo for KRW 200,000,000, Myung Chul Kang for KRW 200,000,000, Lee Hee-hoon for KRW 100,000,000, Sujin Jung for KRW 100,000,000, Seoyeon Lee for KRW 100,000,000 and Sunyoung Kim for KRW 100,000,000.

The transaction has been approved by the shareholders of the company and is expected to close on April 2, 2024. The bonds are 100% convertible into 3,050,205 shares at a fixed conversion price of KRW 2,131 from April 2, 2025 to March 1, 2027. The bonds bear zero coupon rate, 3% maturity rate and matures on April 1, 2027.

The securities are restricted to a hold period.