DSEN Inc. announced a private placement of series 7 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 2,000,000,000 on July 20, 2023. The transaction will include participation from returning investor, Citylabs Co.,Ltd. The bonds carry a coupon rate of 3% and yield to maturity rate of 4% maturing on July 21, 2028. The bonds are fully convertible into 5,813,953 common shares at an issue conversion price of KRW 344 per share between the period starting from July 21, 2024 and ending on June 21, 2028.

The securities have a hold period of one year from the date of issuance. The transaction has been approved by board of directors of the company. The expected date of payment is July 21, 2023.