Itcen Co., Ltd. announced that it expects to receive KRW 16.4 billion in funding from a group of investors
September 06, 2021
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Itcen Co., Ltd announced a private placement of 14th unregistered nonguaranteed private convertible bond for gross proceeds of KRW 16,400,000,000 on September 7, 2021. The transaction will include participation from BNK Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Zebra Investment Management Co., Ltd. for KRW 3,000,000,000, NH Absolute Return Hedge Fund 1 for KRW 1,000,000,000, NH Absolute Mezzanine Hedge Fund 2 for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 2,000,000,000, DB Financial Investment Co.,Ltd., Investment Arm for KRW 1,000,000,000, SAM 19-1 Hedge Fund 1 for KRW 1,000,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, eBest Investment Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, Dawin Technology Finance Co., Ltd. for KRW 1,000,000,000, and Synergy-Shinhan Mezzanine New Technology Business Investment Association 2 for KRW 1,400,000,000. The bonds carry coupon rate of 1% per annum and maturity rate of 2% per annum. The bonds will mature on September 15, 2026. The bonds are fully convertible into 3,046,628 shares of the company at a conversion price of KRW 5,383 per share. The conversion period will start from September 15, 2022 and ends on August 15, 2026. The transaction is expected to close on September 15, 2021. The transaction has been approved by the board of directors of the company.
ITCEN CO.,LTD., formerly ITCEN SYSTEMS Co., Ltd., is a Korea-based company engaged in the provision of information technology (IT) services. The Companyâs services consist of system integration; IT solutions, including hardware, network/security, software, information security, image and other solutions, and IT outsourcing, including IT infrastructure, strategy, computing operation, maintenance and security management services. The Company provides its services to public, defense, education, financial, communication and other industries.
ITCEN CO., LTD. 
