Inscobee., Inc. announced that it expects to receive KRW 20 billion in funding from BNS Investment Ltd
July 05, 2021
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Inscobee., Inc. announced a private placement of series 30 unregistered coupon non-guaranteed private equity convertible bond for an aggregate gross proceeds of KRW 15,000,000,000 and series 31 non-guaranteed private equity conversion bonds with bearer interest for an aggregate gross proceeds of KRW 5,000,000,000, for total gross proceeds of KRW 15,005,000,000,000 on July 5, 2021. The transaction will include participation from new investor BNS Investment Ltd. The series 30 bonds shall carry fixed rate of interest of 2% per annum and yield to maturity at 3% and series 31 bonds shall carry fixed rate of interest of 2% per annum. The bonds shall mature on August 5, 2024. The bonds are fully convertible into 4,731,861 shares of the company at a conversion price of KRW 3,170 per share. The series 31 bonds are fully convertible into 836,972 shares of the company at a conversion price of KRW 3,170 per share. The conversion period will start from August 5, 2022 and ends on July 5, 2024. The transaction is expected to close on August 5, 2021. The transaction has been approved by the board of directors of the company.
Inscobee, formerly Contents And Pepole, Logistics Energy company,.LTD, is a Korea-based company mainly engaged in the wristwatch, automobile and smart grid businesses. The Company mainly operates in five business divisions: wristwatch division provides wristwatch products, including sports watches and watches for gifts under the brand names Odin and Dolphin; automobile division engages in the marketing of used cars; digital division provides computers and peripherals; smart grid division engages in the provision of automatic meter infrastructure (AMI) systems, and distribution division engages in the distribution of beverages under the brand name Tipco. The Company distributes its products within domestic market and to overseas markets.
INSCOBEE., INC. 
