Ascendio Co., Ltd. announced that it expects to receive KRW 20 billion in funding
November 21, 2023
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Ascendio Co., Ltd. announced a private placement of series 45 domestic bearer-type non-guaranteed private placement convertible bonds for the gross proceeds of KRW 6,000,000,000, series 46 domestic bearer interest-bearing unsecured private placement convertible bonds for the gross proceeds of KRW 6,000,000,000 and series 47 Domestic bearer interest-bearing unsecured private placement convertible bonds for the gross proceeds of KRW 8,000,000,000; for total gross proceeds of KRW 20,000,000,000 on November 22, 2023. The transaction will include participation from new investor NSIS. The series 47 bonds carry a coupon rate of 0% and yield to maturity of 3% and will mature on January 10, 2027. The series 47 bonds are fully convertible into 4,687,500 common shares at a conversion price of KRW 1,280 per share from January 10, 2025 to December 10, 2026. The bonds are restricted to a hold period of 1 year. The transaction has been approved by the shareholders of the company. The transaction is expected to close on January 10, 2024.
For Series 47 bonds - The transaction will include participation from new investor Sky Venture Holdings Co., Ltd. The bonds carry a coupon rate of 0% and yield to maturity of 3% and will mature on January 10, 2027. The bonds are fully convertible into 6,250,000 common shares at a conversion price of KRW 1,280 per share from January 10, 2025 to December 10, 2026. The bonds are restricted to a hold period of 1 year. The transaction has been approved by the shareholders of the company. The transaction is expected to close on January 10, 2024.
For Series 45 bonds - The transaction will include participation from new investor Challenge combination. The bonds carry a coupon rate of 0% and yield to maturity of 3% and will mature on January 10, 2027. The bonds are fully convertible into 4,687,500 common shares at a conversion price of KRW 1,280 per share from January 10, 2025 to December 10, 2026. The bonds are restricted to a hold period of 1 year. The transaction has been approved by the shareholders of the company. The transaction is expected to close on January 10, 2024.
Ascendio Co Ltd, formerly Kiwi Media Group Co Ltd, is a Korea-based company principally engaged in the content business. The Company operates its business through six segments. The Film Business segment is engaged in film production, investment and distribution. The Drama Business segment is engaged in the production and investment of contents such as dramas and others. The Video Business segment is engaged in closed circuit television (CCTV) manufacturing and installation, and software development. The Management Business segment provides services such as artist management and others. The Performance Business segment is engaged in planning and producing performances such as musicals and others. The Other segment provides services such as advertisements and sponsorships, among others.
ASCENDIO CO., LTD. 
