WISE iTech Co., Ltd. (XKON:A065370) announced that it will issue series 3 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 1,000,000,000 on November 20, 2018. The transaction will include participation from new investor STIC Fourth Industrial Revolution Fund, a fund managed by STIC Investments, Inc. The bond bear nil coupon and 1% yield to maturity. The bond will mature on November 28, 2021.

The bond will be issued at par. The bond is fully convertible into 111,111 shares representing 3.27% stake at a fixed conversion price of KRW 9,000 each starting from November 28, 2019 till November 27, 2021. The subscription date is November 22, 2018 and expected payment date is November 28, 2018.

The transaction has been approved by the board of directors of the company.