AIIT ONE Co., Ltd. announced a private placement of series 12 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 10,000,000,000 on June 27, 2023. The transaction will include participation from new investor, The Secret Fund No. 1. The bonds are fully convertible into 8,176,614 common shares at a conversion price of KRW 1223 per share from starting from August 10, 2024 and ending on July 10, 2026.

The bonds will carry a coupon rate of 3% and yield to maturity of 9.5% and will mature on August 10, 2026. The bonds are restricted to the hold period of 1 year and will be issued through yearning method. The transaction has been approved by shareholders of the company.

The transaction is expected to close on August 10, 2023.