CNPLUS Co., Ltd. announced a private placement of series 8 Bearer-type interest-bearing parent's certificate private placement convertible bonds for gross proceeds of KRW 5,000,000,000 on September 23, 2022. The bonds carry a fixed coupon of 1% and yield to maturity of 7% per annum. The transaction will include participation from INSLID Co., Ltd. for KRW 5,000,000,000.

The bonds will mature on October 20, 2025. The bonds will be 100% converted into 7,541,478 common shares at a fixed conversion price of KRW 663 per share for an equity stake of 9.98%. The conversion period is from October 20, 2023 to September 20, 2025.

The payment date of the transaction is October 20, 2022. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.