NextEye Co., Ltd. announced a private placement of series 6 bearer type private equity convertible bond for gross proceeds of KRW 10,000,000,000 and series 1 non-guaranteed private equity exchange bond for gross proceeds of KRW 2,200,000,000, for aggregate gross proceeds of KRW 12,200,000,000 on January 11, 2022. The transaction will include participation from AX Fund for series 6 bonds, and Reditus Co., Ltd. for series 1 bonds. Both the bonds carry zero interest, and 1% yield to maturity rate.

The series 6 bonds will mature on February 25, 2024 and series 1 bonds will mature on April 30, 2024. The series 6 bonds are fully convertible into 7,137,758 common shares of the company at a fixed conversion price of KRW 1,401 per share from February 25, 2023 to January 25, 2024. The series 1 bonds are convertible into 1,744,647 shares at a fixed conversion price of KRW 1,261 per share from May 1, 2022 to March 30, 2024.

The payment date of series 6 bonds is February 25, 2022 and series 1 bonds is April 30, 2022. The transaction has been approved by the board of directors of the company.