Vuno Inc. announced a private placement to issue Series 2 Bearer-Bearing Interest-Bearing Unsecured Private Placement Perpetual Convertible Bonds for the gross proceeds of KRW 10,400,000,000 on March 21, 2024. The transaction will include participation from new investor Atman-Villens New Technology Association No. 1. The transaction has been approved by the shareholders of the company and is expected to close on March 26, 2024.

The bonds are 100% convertible into 313,678 shares at a fixed conversion price of KRW 33,155 from March 26, 2025 to February 26, 2054. The bonds bear zero coupon rate and 2% maturity rate and matures on March 26, 2054. The securities are restricted to a hold period.