Announcement • Jul 23
ITM Semiconductor Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Mirae Asset Securities Co., Ltd.
ITM Semiconductor Co., Ltd. has announced to issue Series 6 Bearer-type, unsecured private placement convertible bonds for gross proceeds of KRW 20,000,000,000 on July 22, 2026. The transaction involves investor participation from Shinhan The Credit 4 General Private Equity Investment Trust advised by Samsung Securities Co.,Ltd. for KRW 1,600,000,000, Rhinos Mezzanine General Private Equity Investment Trust No. 26 advised by Samsung Securities Co., Ltd. for KRW 1,500,000,000, Rhinos KOSDAQ Venture Mezzanine General Private Equity Investment Trust No. 6 advised by Samsung Securities Co., Ltd. for KRW 1,000,000,000, Mirae Asset Securities Co., Ltd. for KRW 3,000,000,000, Daishin-JB Woori-NH Hedge Listed Company Mezzanine New Technology Investment Fund for KRW 1,500,000,000, IBKC-Pacific Pre-IPO Plus New Technology Investment Fund for KRW 2,000,000,000, Shinhan-Time Premier Mezzanine New Technology Investment Fund for KRW 1,400,000,000, Shinhan-DB Productive Finance New Technology Investment Fund No. 1 for KRW 2,000,000,000. The bonds are 100% convertible into 2,396,931 common shares of the company at a conversion price value of KRW 8,344 and carry interest rate of 0% and maturity interest rate of 0%. The conversion billing period starts from July 30, 2027 to June 30, 2031. The transaction has been approved by the board of directors of the company. The transaction is subject to 1 year hold period. The bonds have a maturity date of July 30, 2031.The transaction is expected to close on July 30, 2026.