ITEYES Inc. announced a private placement of series 1 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 12,000,000,000 on July 18, 2023. The transaction will include participation from new investor, Kiwoom-Suseong No. 1 New Technology Business Fund.

The bonds will be issued at par and carry coupon of 1%. The bonds have yield to maturity of 2% and would mature on July 28, 2028. The bonds will be fully convertible into 1,264,889 shares of the company at a fixed conversion price of KRW 6,641 from July 28, 2024 and June 28, 2028.

The subscription date is July 20, 2023. The payment date is July 28, 2023. The transaction has been approved by its board of directors.