ISE Commerce Company Limited announced that it expects to receive KRW 2.4 billion in funding from Mirae Asset Securities Co., Ltd.

ISE Commerce Company Limited (KOSDAQ:A069920) announced a private placement of series 5 non-guaranteed private equity exchange bonds for gross proceeds of KRW 2,400,000,000 on March 29, 2021. The transaction will include participation from Mirae Asset Securities Co., Ltd. (KOSE:A006800). The bonds will be convertible into 545,702 common shares of the company at price of KRW 4,398 per share from April 30, 2021 to February 28, 2026.

The bonds will mature on March 31, 2026. The subscription date and the payment date of the bonds is March 31, 2021. The transaction has been approved by the board of directors of the company.