IM Co.,Ltd announced a private placement of series 7 non-guaranteed private equity convertible bonds for an aggregate gross proceeds of KRW 6,500,000,000 on April 28, 2022. The transaction will include participation from Blue Rabbit Publishing Co.,Ltd. for KRW 5,000,000,000, HUGON for KRW 500,000,000, Jin-A Co., Ltd. for KRW 300,000,000, Allepok Co., Ltd. for KRW 200,000,000, Hong, Ji-wan for KRW 200,000,000, Hong, Ji-yong for KRW 200,000,000, and Jang, Seong-woo for KRW 100,000,000. The bonds carry zero coupon rate and will mature on April 29, 2025.

The bonds are convertible into 950,292 shares of the company at conversion price of KRW 6,840 per share from April 29, 2023 and ending on March 29, 2025. The transaction has been approved by the board of directors of the company. The transaction is expected to close on April 29, 2022.