AIIT ONE Co., Ltd. announced a private placement of series 11 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 16,000,000,000 on May 17, 2023. The transaction will include participation from new investor, Super Cathode Investment Purpose Fund. The bonds are fully convertible into 18,454,440 common shares at a conversion price of KRW 867 per share from starting from August 6, 2024 and ending on May 08, 2026.

The bonds will carry a coupon rate of 3% and yield to maturity of 9.5% and will mature on August 6, 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 June 8, 2023.