OSP Co., Ltd. announced a private placement of series 1 unsecured convertible bonds for the gross proceeds of KRW 9,000,000,000 on October 24, 2023. The bonds will be 100% convertible into 1,860,272 common shares at a conversion price of KRW 4,838 per share from October 26, 2024 to September 26, 2026. The transaction has been approved by the shareholders of the company and is expected to close on October 26, 2023.

The bonds will be matured on a debt maturity date of October 26, 2026. and have a maturity interest rate of 2%. The transaction will include participation from new investor, Happy Pet Life Care New Technology Fund 2 for KRW 9,000,000,0000.