IHQ Inc. announced a private placement of round 11 nonguaranteed private convertible bond with bearer type interest part for gross proceeds of KRW 4,600,000,000 on February 15, 2022. The transaction will include participation from existing investor KH Media Co., Ltd. The bonds has been issued at par and will carry coupon rate of 2%. The bonds have yield to maturity of 2% and would mature on February 16, 2025.

The bonds will be fully convertible into 3,842,940 shares of the company at a fixed conversion price of KRW 1,197 from February 16, 2023 to January 16, 2025. The payment date is February 16, 2022. The transaction has been approved by the board of directors of the company.