Selvas AI Inc. announced that it expects to receive KRW 3 billion in funding from Wysiwyg Studios Co., Ltd.
August 11, 2022
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Selvas AI Inc. announced a private placement of unsecured private placement convertible bonds for KRW 3,000,000,000 on August 12, 2022. The transaction will include participation from Wysiwyg Studios Co., Ltd. The bonds carry yield to maturity rate of 2%, and will mature on August 22, 2024. The bonds will be 100% converted into 404,530 common shares at a fixed conversion price of KRW 7,416 per share for an equity stake of 1.80%.The conversion period for bond is from August 22, 2023 to July 22, 2024. The payment date of the transaction is August 22, 2022. The transaction has been approved by the board of directors of the company.
On November 22, 2022, the company announced the adjustments to issue 527,797 common shares at a fixed conversion price of KRW 5,684 per share of unsecured private placement convertible bonds for KRW 3,000,000,000.
On February 22, 2022, the company announced the adjustments to issue 404,530 common shares at a fixed conversion price of KRW 7,416 per share of unsecured private placement convertible bonds for KRW 3,000,000,000.
WYSIWYG STUDIOS CO., LTD. is a Korea-based company mainly engaged in production of contents related to movies, video and broadcasting programs. The Company produces contents which can be represented by computer graphics (CG) technologies such as visual effects (VFX), animation, interactive media, virtual reality (VR), augmented reality (AR), among others.
WYSIWYG STUDIOS CO., LTD. 
