INCOSBEE, Inc. announced that it expects to receive KRW 3.24 billion in funding
November 20, 2019
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NCOSBEE, Inc. (KOSE:A006490) announced a private placement of 25th bearer's interest-free non-guaranteed private equity bonds for gross proceeds of KRW 3,240,000,000 on November 21, 2019. The transaction included participation from Sua Choi for KRW 650,000,000, Popular for KRW 540,000,000, Eunsuk Yoo for 400,000,000, Bongjun Ko for KRW 400,000,000, Suk Hwan Lee for KRW 300,000,000, Joo Hee Kang for KRW 250,000,000, Nervous for 250,000,000, Hansoo Kim for KRW 200,000,000, Moonbonggi for KRW 150,000,000, Park Nae Seung for KRW 100,000,000. The bonds will carry a coupon of 0% and yield to maturity of 3%. The bonds will mature on November 22, 2022. The bonds will be convertible into 941,313 common shares of the company at a rate of 100% and at a fixed conversion price of KRW 3,442 per share from November 22, 2020 to October 22, 2022. The subscription and the payment date is November 22, 2019. The transaction has been approved by board of directors of the company.
Inscobee, formerly Contents And Pepole, Logistics Energy company,.LTD, is a Korea-based company mainly engaged in the wristwatch, automobile and smart grid businesses. The Company mainly operates in five business divisions: wristwatch division provides wristwatch products, including sports watches and watches for gifts under the brand names Odin and Dolphin; automobile division engages in the marketing of used cars; digital division provides computers and peripherals; smart grid division engages in the provision of automatic meter infrastructure (AMI) systems, and distribution division engages in the distribution of beverages under the brand name Tipco. The Company distributes its products within domestic market and to overseas markets.
INSCOBEE., INC. 
