Mstns Co.,Ltd. announced a private placement of series 1 Non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on June 29, 2020. The transaction will include participation from new investor DC-T2 Combination. The bonds have zero coupon and 2% yield to maturity and will mature on August 18, 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 August 18, 2021 and end date is August 4, 2023. The expected date of closing of the transaction is August 18, 2020.

The transaction has been approved by the company's board of directors. The bonds issued are subject to restriction period of one year.