Mstns Co.,Ltd. announced a private placement of series 1 unregistered interest-free unguaranteed private convertible bonds of KRW 5,000,000,000 and series 1 unregistered interest-free unguaranteed private non-convertible bonds with warrants for gross proceeds of KRW 5,000,000,000 for an aggregate gross proceeds of of KRW 10,000,000,000 on December 6, 2019. The transaction will include participation from new investors DEC-TR Fund 2 and Neon Partners Co., Ltd who will each invest KRW 5,000,000,000. The bonds are issued 2% yield to maturity and will mature on February 19, 2023.

The bonds can be 100% converted into 293,461 common shares of the company at a fixed conversion price of KRW 17,038 per share. The conversion period start date is February 19, 2021 and end date is February 5, 2023. The subscription date of the transaction is February 19, 2020.

The expected date of closing of the transaction is February 19, 2020. The transaction has been approved by the company's board of directors.