MPDAESAN Inc. announced a private placement of series 6 Unsecured privately placed convertible bonds with bearer interest of KRW 8,000,000,000 on February 8, 2023. The transaction will include participation from Citylabs Co.,Ltd. The bond carry coupon rate of 3% and have yield to maturity of 4%. The bonds will mature on February 9, 2028.

The bonds will be 100% convertible into 19,047,619 common shares of the company, representing 13.2% of the total number of shares at a fixed conversion price of KRW 420 per share. The conversion period is from February 9, 2024 to January 9, 2028. The transaction has a subscription date of February 8, 2023 and payment date of February 9, 2023.

The transaction has been approved by the board of directors of the company.