KNOTUS Co.,Ltd announced a private placement of 1st unregistered coupon nonguaranteed private convertible bonds for gross proceeds of KRW 54,600,000,000 and 2nd unregistered coupon nonguaranteed private convertible bonds for gross proceeds of KRW 40,000,000,000, for aggregate gross proceeds of KRW 94,600,000,000 on December 27, 2021. The series 2 bonds will include participation from Becca New Technology Association 128 for KRW 6,500,000,000, Apple Tree Investment Association for KRW 18,000,000,000, and Low Hills Investment Association for KRW 15,500,000,000. The series 2 bonds carry 0% interest rate, 1% yield to maturity rate, will mature on January 13, 2025, and are fully convertible into 1,171,508 shares of the company, representing 13.28% stake, at a fixed conversion price of KRW 34,144 per share from January 13, 2023 to January 13, 2025.

The transaction has been approved by the board of directors of the company, and is expected to close on January 13, 2022.