IokCompany Co., Ltd. announced a private placement of series 18 of Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on November 25, 2021. The transaction will include participation from Vivien Corporation for KRW 10,000,000,000 and Mirae Corporation for KRW 10,000,000,000. The notes will carry a interest rate of 3% and will mature on February 11, 2025.

The bonds are 100% convertible into equity shares at an conversion price of KRW 2,171 and convertible from February 2, 2023 and end on January 11, 2025. The transaction was approved by the board of directors of the company.