ILYA Co., Ltd announced a private placement of Series 2 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 10,000,000,000 on March 24, 2023. The transaction will include participation from Metaplex Co., Ltd. for KRW 5,500,000,000, Hit Park Co., Ltd. for KRW 3,000,000,000 and LDH Co., Ltd. for KRW 1,500,000,000. The bonds 3% interest rate and 4% yield to maturity and will mature on May 10, 2026.

The bonds will be converted into 12,048,192 common shares at a fixed conversion price of KRW 830 from May 10, 2024 to October 4, 2026. The bonds are restricted to a hold period of one year from the announcement. The transaction has been approved by shareholders of the company.

The transaction is expected to close on May 10, 2023.