Incredible Holdings Ltd. announced that it has entered into subscription agreement for a private placement of 0% perpetual convertible bonds for gross proceeds of SGD 9,000,000 on January 1, 2022. The bonds will be convertible into new ordinary shares in the company at a conversion price of SGD 0.003333 per conversion share; and 10,000,000,000 free warrants, each warrant shall grant the holder thereof the right to subscribe for one new ordinary share in the company at an exercise price of SGD 0.003333.