PangSky Corp. announced a private placement to issue Series 8 Bearer-Bearing Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 1,000,000,000 on March 21, 2024. The transaction will include participation from new investor Exergy21 Co., Ltd. The transaction has been approved by the shareholders of the company and is expected to close on March 22, 2024.

The bonds bear zero coupon rate and 4% maturity rate and matures on March 22, 2027. The bonds are 100% convertible into 333,333 shares at a fixed conversion price of KRW 3,000 per share from April 22, 2024 to March 21, 2027. The securities are restricted to hold period.