N Citron, Inc. announced that it expects to receive KRW 4 billion in funding from Epoche Co. Ltd and another investor
April 26, 2024
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N Citron, Inc. announced a private placement to issue Series 15 Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 2,000,000,000 and Series 14 Non-Guaranteed Private Placement Perpetual Convertible Bond for the gross proceeds of KRW 2,000,000,000; gross proceeds of KRW 4,000,000,000 on April 26, 2024. The transaction will include participation from new investor Jin Yang Gon for KRW 1,000,000,000 and Epoche Co. Ltd for 1,000,000,000. The transaction has been approved by the shareholders of the company, restricted to a hold period and is expected to close on May 7, 2024. The bonds are 100% convertible into 3,738,317 at a fixed conversion price of KRW 535 from May 7, 2025 to April 24, 2029. The bonds bear zero coupon rate and maturity rate and matures on May 7, 2029.
Series 14 bonds - The transaction has been approved by shareholders of company. The transaction has been approved by shareholders and is expected to close on May 7, 2024.
N CITRON, INC., formerly NEOFIDELITY, INC. is a Korea-based company engaged in the manufacture and sale of full digital audio amplifier solution products. The Company produces digital audio amplifier chips, including NTP-7XXX series, NTP-3XXX series, NTP-2XXX series and NSP series for flat panel display (FPD) televisions (TVs), desktop audios, monitor TVs, home theaters and other digital products. The Company distributes its products within domestic market and to overseas markets, including Taiwan, Japan and China. The Company has one Hong Kong-based subsidiary, NF Industries Company Limited.
N CITRON, INC. 
