i-SENS, Inc. announced a private placement of series 1 bearer-type, non-coupon-bearing, non-guaranteed private placement convertible bonds for the gross proceeds of KRW 50,000,000 on April 26, 2024. The bonds carry coupon rate and maturity rate of 0% and will mature on April 30, 2029. The series 1 bonds will be fully convertible into 2,593,495 common shares at a conversion price of KRW 19,279 per share from April 30, 2025 to March 30, 2029.

The transaction will include participation from new investors KIPICON Private Equity Limited Partnership for KRW 12,000,000,000, NH Investment & Securities Co., Ltd. for KRW 12,000,000,000, Atinum Growth Fund 2023 managed by Atinum Investment Co., Ltd for KRW 6,000,000,000, Healthcare New Technology Fund for KRW 10,000,000,000 and Atman -JB-Global One New Technology Association for KRW 10,000,000,000. The transaction has been approved by the shareholders of the company and is expected to close on April 30, 2024.