INCOSBEE, Inc. announced that it expects to receive KRW 4.6025 billion in funding from a group of investors
August 05, 2019
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INCOSBEE, Inc. (KOSE:A006490) announced a private placement of 24th unregistered unsecured private convertible bonds for gross proceeds of KRW 4,602,500,000 on August 6, 2019. The transaction included participation from Mook Co.,Ltd for KRW 150,000,000, Dohyung Ki for KRW 750,000,000, Minjoo Park for KRW 375,000,000, Huisung Han for KRW 300,000,000, Hyungmoon Lee for KRW 300,000,000 and other investors.The bonds will carry a coupon of 0% and yield to maturity of 3%. The bonds will mature on August 7, 2022. The bonds will be convertible into 1,843,950 common shares of the company at a rate of 100% and at a fixed conversion price of KRW 2,496 per share from August 7, 2020 to July 7, 2022. The subscription and the payment date is August 7, 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. 
