AJ Advance Technology Public Company Limited announced that it expects to receive THB 300 million in funding from Advance Capital Partners Asset Management Private Limited, ZICO Asset Management Pte. Ltd.

AJ Advance Technology Public Company Limited announced a private placement of senior unsecured convertible debenture for gross proceeds of approximately THB 300,000,000 on May 13, 2021. The convertible debentures will be issued in three tranches of THB 100,000,000 each including, first tranche of 40 sets and THB 2,500,000 per set, second tranche of 40 sets and THB 2,500,000 per set and third tranche of 25 sets and THB 4,000,000 per set. The debenture will have a maturity of three years after the issuance of each tranche and will bear interest at a rate of 0.50% per annum, payable on quarterly basis convertible at the option of the holder, in whole or in part, into common shares of the company at a conversion price of THB 0.2518 on the date falling 7 days prior to the date of maturity.

The transaction has been approved by the board of directors in extraordinary general meeting of 2021.