IHQ Inc. announced a private placement of round 13 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 7,200,000,000 on May 13, 2022. The transaction included participation from individual investor Ji-woong Nam, Jun-hyun Park, Mi-joon Kwak, Kwang-hyun Song, Ok-kyung Go, Kyungsam Yuk, Eun-kyung Kim, Jinwook Kim, Seong-Hoon Kim, and Jeon Insang. The bonds has been issued at par and will carry coupon rate of 1%.

The bonds have yield to maturity of 1% and would mature on May 13, 2025. The bonds will be fully convertible into 6,679,035 shares of the company at a fixed conversion price of KRW 1,078 from May 13, 2023 to April 13, 2025. The payment date is May 13, 2022.

The transaction has been approved by the board of directors of the company. The securities issued shall be subject to hold period of 1 year.