mPLUS Corp. announced a private placement of 3rd series non-guaranteed private convertible bonds for gross proceeds of KRW 40,000,000,000 on May 10, 2022. The transaction will include participation from The 7th EN New Technology Business Investment Fund for KRW 30,000,000,000 and NV Private Equity Fund IV Co., Ltd. for KRW 10,000,000,000.

The bonds are issued at 0% coupon rate, 0% yield to maturity and will mature on May 24, 2026. The bonds can be 100% converted into 2,163,681 common shares for 15.05% stake of the company at a fixed conversion price of KRW 18,487 per share. The conversion period is from May 24, 2023 to April 24, 2026.

The transaction has been approved by the board of directors of the company. The payment date is May 24, 2022. The securities issued shall have lock in period of 1 year from issuance.