Kwangmu Co.,Ltd. announced a private placement of Series 39 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on August 25, 2022. The round will include participation from returning investor, Atlas8000 Co., Ltd. The bonds have a coupon rate of 3% and will mature on August 25, 2025 with maturity rate of 5%. The bonds have a lockup period of 1 year from their issuance date and are 100% convertible into 2,829,654 shares at a conversion price of KRW 3,534 per share, having a conversion period beginning on November 29, 2023 and ending on October 29, 2025.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on November 29, 2022.