N Citron, Inc. announced that it has received KRW 1.242 billion in funding
February 03, 2021
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N Citron, Inc. announced a private placement of series 10 non-guaranteed private convertible bonds for a gross proceeds of KRW 1,242,000,000 on February 4, 2021. The transaction will include participation from Kwang-yeol Lee. The bonds have a coupon rate of 0% and yield to maturity of 1%. The bonds will mature on February 04, 2026. The bonds will be 100% converted into 1,444,186 common shares at a fixed conversion price of KRW 860 per share for an equity stake of 4.28%. The conversion period is from February 04, 2022 to January 20, 2026. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
N CITRON, INC., formerly NEOFIDELITY, INC. is a Korea-based company engaged in the manufacture and sale of full digital audio amplifier solution products. The Company produces digital audio amplifier chips, including NTP-7XXX series, NTP-3XXX series, NTP-2XXX series and NSP series for flat panel display (FPD) televisions (TVs), desktop audios, monitor TVs, home theaters and other digital products. The Company distributes its products within domestic market and to overseas markets, including Taiwan, Japan and China. The Company has one Hong Kong-based subsidiary, NF Industries Company Limited.
N CITRON, INC. 
