Spofeed Co., Ltd. announced that it has issued 2,000,000 Type 3 convertible bonds at a price of KRW 500 for aggregate gross proceeds of KRW 1,000,000,000 in a round of funding on June 14, 2024. The transaction included participation from new investor Longtu Korea Inc. The bonds have 4% interest rate on maturity. The bonds will mature on June 14, 2027.

The bonds are issued at conversion price of KRW 500 for 100% conversion rate. The transaction has been approved by shareholder board of the company.