Inscobee., Inc. announced that it expects to receive KRW 2.3 billion in funding
September 24, 2020
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Inscobee., Inc. (KOSE:A006490) announced a private placement of series 28 non-guaranteed private equity conversion bonds with bearer interest for an aggregate gross proceeds of KRW 2,300,000,000 on September 25, 2020. The transaction will include participation from Medical Bioconvergence Research Center for KRW 1,830,000,000, individual investor, Hyuk Sung Kwon for KRW 370,000,000, and other investor for KRW 100,000,000. The bonds shall carry fixed rate of interest of 3% per annum. The bonds shall mature on September 28, 2023. The bonds are fully convertible into 836,972 shares of the company at a conversion price of KRW 2,748 per share. The conversion period will start from September 28, 2021 and ends on August 28, 2023. The transaction is expected to close on September 28, 2020. The transaction has been approved by the 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. 
