Brand X Corporation Invests 10 Billion KRW in HYBE, BTS's Agency, Through Convertible Bonds

[Asia Economy Reporter Seungjin Lee] Brand X Corporation, a media commerce company famous for the leggings brand Jeximix, announced on the 9th that it has decided to invest 10 billion KRW through Lakewood No. 2 Fund, which invests in convertible bonds (CB) of HYBE, the agency of BTS.

After acquisition, the fund's equity ratio is 97.1%. The conversion price is 385,500 KRW, and the conversion claim period is from November 5, 2022, to October 5, 2026.

A representative of Brand X Corporation said, "The M&A planned for this year was somewhat delayed, so part of this year's budget was used for financial investment," adding, "We invested in the place we judged to have the highest growth potential."

They also added, "We are continuously discovering M&A deals for company growth and expect to bear fruit soon."

On the 4th, HYBE officially announced its entry into the non-fungible token (NFT) business and issued convertible bonds (CB) worth 400 billion KRW to acquire 861,004 shares of Dunamu, the operator of the cryptocurrency exchange Upbit, worth approximately 500 billion KRW.

This content was produced with the assistance of AI translation services.