IM Co.,Ltd announced a private placement of series 9 bearer type unsecured privately placed convertible bonds for gross proceeds of KRW 5,000,000,000 on June 20, 2023. The transaction will include participation from new investor, Cuburix. Inc. The bonds will mature on July 28, 2026.

The bonds are convertible into 377,900 shares of the company at conversion price of KRW 13,231 per share from July 28, 2024, ending on June 28, 2026. The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 28, 2023.

The bonds have a coupon rate of 4% and yield to maturity rate of 7%. The bonds are restricted to a hold period of 1 year from the date of issuance of bonds.