SGA Solutions Co.,Ltd. announced a private placement of unsecured private placement convertible bonds for the gross proceeds of KRW 10,000,000,000 on May 2, 2024. The bonds will have a coupon rate of 1% and maturity rate of 3%. The bonds will be convertible into 14,144,271 common shares of the company at a conversion price of KRW 707.

The transaction has been approved by the shareholders of the company and is expected to close on May 7, 2024. The transaction will include participation from new investor, Synergy Mezzanine Blind No. 10 New Technology Business Fund for KRW 1,000,000,000, Synergy Ivy Digital Transformation New Technology Fund for KRW 7,000,000,000, Synergy Ivy Win-Win Innovation New Technology Fund for KRW 2,000,0000,000