Benoholdings, Inc. announced a private placement of series 9 bearer unguaranteed private placement convertible bonds for gross proceeds of KRW 5,000,000,000, series 8 bearer unguaranteed private placement convertible bonds for gross proceeds of KRW 15,000,000,000; for aggregate gross proceeds of KRW 20,000,000,000 on August 17, 2021. The transaction will include participation from Value Oriented Fund for series 9 bearer unguaranteed private placement convertible bonds, BNS Investment Ltd for series 8 bearer unguaranteed private placement convertible bonds. The series 9 and series 8 bonds will bear a coupon rate of 1% and have yield to maturity of 2%. The series 9 bonds will mature on September 29, 2024, and the series 8 bonds will mature on September 29, 2021. The series 9 bonds will be 100% converted into 798,722 common shares at a fixed conversion price of KRW 6,260 per share for an equity stake of 3.46%. The series 8 bonds will be 100% converted into 2,396,166 common shares at a fixed conversion price of KRW 6,260 per share for an equity stake of 10.37%. The conversion period of series 9 and series 8 bonds is from April 30, 2022 to March 30, 2024. The payment date of series 9 and series 8 bonds is September 29, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.