Inscobee., Inc. announced a private placement to issue Series 32 Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 12,000,000,000 on March 4, 2024. The transaction will include participation from new investor Sangsangin Investment & Securities. The bonds are 100% convertible into 9,223,674 shares at a fixed conversion price of KRW 1,301 from March 5, 2025 to February 5, 2027.

The bonds bear 3% interest rate and 8% maturity rate and matures on March 5, 2027. The transaction has been approved by the shareholders of the company and is expected to close on March 5, 2024. The securities are restricted to a hold period.