IHQ Inc. announced a private placement of series 10 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on November 30, 2021. The transaction will include participation from new investor IokCompany Co., Ltd. The bonds has been issued at par and will carry coupon rate of 3%. The bonds have yield to maturity of 3% and would mature on January 13, 2025.

The bonds will be fully convertible into 5,878,894 shares of the company at a fixed conversion price of KRW 1,701 from January 3, 2023 to December 13, 2024. The payment date is January 13, 2022. The transaction has been approved by the board of directors of the company.