Bitnine Issues 60 Billion KRW Convertible Bonds... "Expanding AI Advertising Business"

Bitnine is issuing convertible bonds (CB) worth 60 billion KRW. The issued CB will be used to expand its artificial intelligence (AI) advertising business.

On the 18th, Bitnine announced that it will issue the 3rd to 6th series of CB. The 3rd series worth 10 billion KRW will be issued to Next Global, the 4th series worth 10 billion KRW to AI Tech Investment, and the 5th series worth 10 billion KRW to H&D Star Partnership. Additionally, the 6th series worth 30 billion KRW will be issued to David Five. The total amount is 60 billion KRW.

This CB will be used to secure stable financial soundness for the listed company by repaying borrowings, operating funds for expanding AI overseas business, investing in AI technology and infrastructure expansion, and strategic equity investments in other companies for AI business expansion.

A company official stated, "Director's Tech's AI advertising service business is receiving continuous advertising production requests not only from 80 luxury brands under the Louis Vuitton Group (LVMH) but also from global luxury companies such as Chanel and the Swatch Group," adding, "In Korea as well, large corporations across all industries including electronics, consumer goods, sports equipment, and food and beverages are flooding with orders, so we aim to secure servers and additional GPUs to capture the market."

The core of the advertising videos produced without live-action shooting through the AI technology owned by Director's is ‘product data’. B2C (business-to-consumer) AI businesses currently on the market have the disadvantage of lacking data on advertisers' products, making it difficult to utilize for advertising. However, Director's Tech can rapidly acquire data from global advertising operators to enhance product generation and restoration.

To quickly secure data from global clients, CB funds will be invested as operating funds for expanding into the European and US markets. Additionally, part of the funds will be used to build overseas sales networks for the finished product data solutions of the listed company Bitnine.