Hyulim Networks Co., Ltd. announced a private placemen to issue Zero Coupon Series 5 Unsecured Private Placement Convertible Bonds due October 1, 2027 for the gross proceeds of KRW 40,000,000,000 on July 1, 2024. The transaction will include participation from new investors Palantir Fund No.1 for KRW 20,000,000,000, Polaris Fund for KRW 10,000,000,000 and Zoomwe Korea Fund for KRW 10,000,000,000. The bonds are 100% convertible into 3,759,044 shares at a fixed conversion price of KRW 10,641 from October 1, 2025 to September 30, 2027.

The bonds bear zero coupon rate, 3% maturity rate and matures on October 1, 2027. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on October 1, 2024.