M-Venture Investment, Inc. announced a private placement of round 33 Unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on February 7, 2022. The transaction will include participation from new investor Sangsangin Savings Bank. The bonds are issued at par value and will mature on February 9, 2027.

The bonds carry a coupon rate of 4% per annum and yield to maturity of 5% per annum. The bonds are 100% convertible into 3,460,207 common shares at a conversion price of KRW 1,445 per share from February 9, 2023 to January 9, 2027. The transaction has been approved by the board of directors of the company.

The subscription date and payment date is on February 9, 2022. The bonds are subjected to a hold period of one year from issuance.