# XIIlab approves KRW 10B convertible bond for ai data center

Digest AI · Business & Funding · published 2026-11-06T07:08:04Z

Canonical: https://digestai.news/story/xiilab-approves-krw-10b-convertible-bond-for-ai-data-center

## Summary

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.

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.

## 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

## Why it matters

The bond gives XIIlab working capital for GPU‑cluster expansion and AstraGo deployment, potentially creating recurring AI infrastructure revenue while managing dilution and repayment risk.

## Sources

1. [XIIlab Approves KRW 10B Convertible Bond to Expand AI Data Center Business](https://unite.ai/xiilab-approves-krw-10b-convertible-bond-to-expand-ai-data-center-business) (Unite.AI, 2026-11-06)

## Cite

Digest AI, "XIIlab approves KRW 10B convertible bond for ai data center", 6 November 2026, https://digestai.news/story/xiilab-approves-krw-10b-convertible-bond-for-ai-data-center

---

Written by Digest AI's editorial model from the linked sources; the sources are the record. Headlines, digests and key points are written by Digest AI and may be quoted with a link to the story page. Linked articles belong to their publishers. Terms: https://digestai.news/terms#reuse
JSON: https://digestai.news/story/xiilab-approves-krw-10b-convertible-bond-for-ai-data-center.json