XIIlab approves KRW 10B convertible bond for ai data center
XIIlab disclosed that its board approved a KRW 10 billion privately placed convertible bond for its AI data‑center business. The bond carries a 0 % coupon, matures on November 16 2031, and can be converted at KRW 8,106 per share, yielding 1,233,654 shares if fully exercised.
Key points
- XIIlab approved a KRW 10 billion convertible bond with 0 % coupon and 2031 maturity
- Conversion set at KRW 8,106 per share, producing 1,233,654 shares if fully exercised
- Funding comes from KRW 8 billion National Growth Fund sub‑funds and KRW 2 billion Orion‑managed funds
The financing comes from KRW 8 billion of National Growth Fund sub‑funds managed by Korea Investment Value Asset Management, DB Asset Management, Susung Asset Management and Orion Asset Management, plus KRW 2 billion from other Orion‑managed funds. The company plans to use the proceeds for GPU‑cluster construction, applying its AstraGo 2.1 software, and pursuing operations and management contracts.
AstraGo is a Kubernetes‑based platform that allocates GPU resources for training and inference workloads. XIIlab launched AstraGo 2.1 on April 1 2026 and aims to build recurring revenue from annual subscriptions and ongoing management work, while balancing dilution and repayment options embedded in the bond.
XIIlab Approves KRW 10B Convertible Bond to Expand AI Data Center Business
Unite.AI · 6 November 2026
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