Knowmerce, a company specializing in artist intellectual property (IP) solutions, said on the 24th that it secured a 40 billion won investment through the issuance of convertible bonds (CB).
According to the company, the CB conversion price was set at 15,520 won per share, a 40% premium to the reference price. Both the coupon rate and the yield to maturity are 0%, and a refixing clause that lowers the conversion price if the share price falls does not apply.
It also said a mechanism was put in place to reduce dilution for existing shareholders, allowing the company to exercise a call option on up to 55% of the issuance amount.
Knowmerce plans to expand its global business on the back of additional funding while holding about 20 billion won in cash-like assets. Specifically, it plans to invest across all business areas, including attracting new IP, performances, merchandise (MD), and content.