IME YOUNYI Co., Ltd. announced a private placement of round 1 bearer interest non-guaranteed private convertible bonds, round 2nd bearer interest non-guaranteed private convertible bonds and round 3rd bearer interest non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 each, for aggregate proceeds of KRW 30,000,000,000 on December 14, 2020. The transaction will include participation from new investor RB Partners and other investors. The bonds do not bear interest and interest to maturity of 3%, and round 1 will mature on January 29, 2024, round 2 will mature on February 26, 2024 and round 3 on March 31, 2024.

The bonds will be 100% convertible into 1,795,977 common shares of the company representing 9.5% stake at a fixed conversion price of KRW 5,568 per share and round 2 will be convertible from February 26, 2022 to January 26, 2024 and round 3 will be convertible from March 31, 2022 to February 29, 2024, round 2 will be convertible from January 29, 2022 to December 29, 2023. The subscription date of round 2 is February 5, 2021, for round 3 subscription date is March 10, 2021, for round 1 is January 08, 2021 and payment date for round 2 is December February 26, 2021, for round 3 payment date is March 31, 2021 and for round 1 is January 29, 2021. The transaction was approved by the board of directors of the company.