SONOKONG Co., Ltd. announced a private placement of Series 11 Domestic bearer-type non-guaranteed private placement convertible bonds for the gross proceeds of KRW 10,000,000,000 and Series 9 domestic bearer-type interest non-guaranteed private placement convertible bonds for the gross proceeds of KRW 5,000,000,000; aggregate gross proceeds of KRW 15,000,000,000 on August 4, 2023. The transaction will include participation from new investor T1 Partners for KRW 10,000,000,000. The bonds are 100% convertible into 4,701,457 shares at a fixed conversion price of KRW 2,127 from January 19, 2025 to December 19, 2026. The bonds bear zero coupon rate and 1% maturity rate and will mature on January 19, 2027. The transaction has been approved by the shareholders of the company and is expected to close on January 19, 2024. All the securities are restricted to a hold period of one year.

Series 9 bonds - The transaction will include participation from new investor, GNLST Co., Ltd for KRW 5,000,000,000. The bonds are 100% convertible into 2,350,728 shares at a fixed conversion price of KRW 2,127 from January 19, 2025 to December 19, 2026.
The bonds bear zero coupon rate and 1% maturity rate and will mature on January 19, 2027. The subscription date is August 4, 2023. All the securities are restricted to a hold period of one year.