ITX-AI Co., Ltd. (KOSDAQ:A099520) announced a private placement of series 5 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 10,500,000,000 on September 21, 2020. The transaction will include participation from Vertex Holdings Co., Ltd. The bonds will carry a coupon rate of 2% and interest rate to maturity of 4%. The bonds will mature on October 27, 2023. The bonds will be fully convertible into 4,591,167 shares at a price of KRW 2,287 per share from October 27, 2021 and ends on September 27, 2023. The payment date will be October 27, 2020. The securities issued in the transaction is subject to hold period of one year from issuance.