DeepMind Platform Co., Ltd. announced a private placement of series 8 unsecured private placement convertible bonds for a gross proceeds of KRW 4,000,000,000 on April 19, 2024. The transaction will include participation from new investors Atas Partners Inc., Jang San Co.,Ltd. for KRW 2,000,000,000 each. The bonds have a coupon rate of 3% and yield to maturity of 3%.

The bonds will mature on July 1, 2027. The bonds will be 100% converted into 2,616,088 common shares at a fixed conversion price of KRW 1,529 per share for an equity stake of 11.45%. The conversion period is from July 1, 2025 to June 24, 2027.

The payment date of the transaction is July 1, 2024. 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.