AJ Advance Technology Public Company Limited announced that it expects to receive THB 700 million in funding from Advance Capital Partners Asset Management Private Limited, ZICO Asset Management Pte. Ltd.

AJ Advance Technology Public Company Limited announced a private placement of senior unsecured convertible debentures THB 700,000,000 on June 28, 2024. The transaction includes participation from returning investors Advance Opportunities Fund managed by Advance Capital Partners Asset Management Private Limited and Advance Opportunities Fund 1 managed by ZICO Asset Management Pte. Ltd. The debentures carry interest rate of 1.50% and mature 3 years after the issuance of each Tranche.

The issuance will be made in 3 tranches. Convertible Debentures Tranche 1 has the value of not more than THB 200,000,000 divided into 20 sets, THB 10,000,000 per set, Convertible Debentures Tranche 2 has the value of not more than THB 200,000,000 divided into 20 sets, THB 10,000,000 per set, Convertible Debentures Tranche 3 has the value of not more than THB 300,000,000 divided into 20 sets, THB 10,000,000 per set. The transaction was approved by board of directors and subject to approval from shareholders.

The Convertible Debentures holders may exercise their conversion rights of the Convertible Debentures every day until the close of business hours 1 week prior to the Convertible Debenture maturity date.