TOBESOFT Co., Ltd. announced that it expects to receive KRW 3 billion in funding
June 27, 2021
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TOBESOFT Co., Ltd. announced a private placement of series 11 non-guaranteed convertible bonds for gross proceeds of KRW 3,000,000,000 on June 28, 2021. The transaction will include participation from individual investor Gung-hyeon Nam. The bonds will bear a fixed interest rate of 2%, yield to maturity rate of 3%, will mature on August 31, 2024, and will be fully convertible into 1,092,896 common shares, representing 2.86% stake in the company, at a fixed conversion price of KRW 2,745 per share from August 31, 2022 to July 31, 2024. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 31, 2021.
TOBESOFT Co., Ltd. is a Korea-based company engaged in the development, supply and consulting of software. The Companyâs products include Miplatform series, which provide integrated wired and wireless development and operation environment, XPLATFORM series, which are user interface (UI) development platforms based on rich Internet applications (RIAs), as well as X series platforms. It is also involved in the provision of repair and maintenance services for its products. The Companyâs main clients are Samsung SDS, Hyundai AutoEver and others. On February 7, 2014, the Company sold its entire shares of a wholly owned subsidiary, TOBESOFT JAPAN Co.,Ltd.
TOBESOFT CO., LTD. 
