Inscobee., Inc. announced a private placement of series 29 unregistered coupon non-guaranteed private equity convertible bond for an aggregate gross proceeds of KRW 5,000,000,000 on January 25, 2021. The transaction will include participation from DB Financial Investment Co.,Ltd., Investment Arm for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, BFA Co.,Ltd. for KRW 1,000,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 500,000,000 and Hands Partners Co., Ltd. for KRW 1,500,000,000. The bonds shall carry fixed rate of interest of 2% per annum.

The bonds shall mature on January 27, 2024. The bonds are fully convertible into 2,061,855 shares of the company at a conversion price of KRW 2,425 per share. The conversion period will start from January 27, 2022 and ends on December 27, 2023.

The transaction is expected to close on January 27, 2021. The transaction has been approved by the board of directors of the company. The shares will now be convertible at a price of KRW 2185 per share.