GCS Holdings, Inc. announced a private placement of convertible bonds on April 6, 2022. The transaction will include participation from individual investors Shih-YU WEI, Ann Mon-Mei and Pan Fang Ling. The bonds are convertible into not more than 20,000,000 common shares in accordance with the conversion price determined at the time of issuance.

The securities to be issued in the transaction are subject to a hold period of one year. The transaction was approved by the board of directors of the company.