Lunit Inc. announced a private placement of Perpetual Convertible Bonds for gross proceeds of KRW 400,000,000,000 and Convertible Preferred Shares for gross proceeds of KRW 400,000,000,000 for aggregate gross proceeds of KRW 800,000,000,000 on January 7, 2026. The transaction involves participation from new lead investor Atinum Investment and Underwriter Yuanta Securities. The Perpetual Convertible Bonds holds a maturity of 30 years. Of the perpetual bonds, KRW 150,000,000,000 was initially underwritten by Yuanta Securities, which plans to sell down the stake to venture capital investors. The Perpetual Convertible Bonds carry an interest rate of 4.3% and a guaranteed yield of 5 percent at redemption. After five years, the interest rate steps up gradually, a structure designed to reduce near-term cash burden while deferring costs into the future.
On the same day, Lunit Inc. closed then transaction.
Atinum Investment Co Ltd is a Korea-based company primarily engaged in the venture investment business. The Company mainly invests in information technology (IT) and communication, renewable and energy, bio and life science, materials and components, as well as media and contents industries. The Company’s principal activities consist of venture support services, including the consulting of foundation procedures, start-up capital support procedures, tax and accounting, and government support policies; support services for its investment companies including business consulting services of technology trends, strategy plans, human resource plans, initial public offerings (IPOs), restructurings, mergers and acquisitions (M&As), market information and others, and international supports services such as overseas corporation investments as well as cooperative mutual investments of domestic and overseas corporations.
