ITIs Co., Ltd. announced on the 6th that it has issued convertible bonds (CBs) worth 4.1 billion won to expand its new business centered on AI and digital assets. The conversion price is 6,372 won, and the bonds mature in February 2029.
The company plans to focus the funds raised on its core new businesses, including an AI-based new drug development clinical trial platform, an AI energy demand and power generation forecasting and trading platform, and a stablecoin payment platform.
The AI-based new drug development clinical platform aims to generate real-world evidence (RWE) by utilizing clinical and bio-real-world data (RWD) and to reduce development costs and shorten development time by applying AI technology across new drug development research.
The AI-based energy platform will analyze and forecast climate and power data to predict energy demand and power generation, and will be developed as a solution that supports B2B and B2C trading.
The stablecoin payment platform utilizes distributed ledger-based Web3 technology, designed for real-world payment environments, and has the potential to expand into the digital asset market in the future.
The industry believes this convertible bond issuance will mark a turning point for ITIs' transformation into a platform company combining AI and digital assets. As the business structure, which combines existing IT service capabilities with AI, data, and financial technologies, takes shape, interest in future performance and changes in corporate value is expected to intensify.
Seok Dong-han, Chief Financial Officer (CFO) of ITI, said, “This convertible bond issuance is not simply a means of raising financial funds, but a strategic investment for the full-scale launch of a new business.”
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