On March 19, 2020, the company issued 2,061,855 shares for gross proceeds of KRW 9,999,996,750 in its first tranche closing. The transaction will include participation from Jong-hyuk Choi for 329,825, Jongwook Park for 51,546, Taeyoung Jung for 31,000, Sangwon Seo for 210,497, Wayne Partners Co., Ltd. for 412,371, Dong Hyun Lee for 45,000, Chulhoon Byun for 62,300, Sungwook Jin for 62,30, Hosik Jang for 16,000, Won Jung for 6,000, Seohyun Jeong for 3,274, Youngin Park for 1,500, HaeWook Jang for 1,000, Hyeongu Yeo for 1,000, Jinsung Sa for 1,000, Taehyun Kim for 500, Yunsoo Ha for 500, DongChan Shin for 500, Insook Han for 500, Suyi Oh for 500, Seungho Lee for 288,659, Dongwoo Son for 268,040, Kyungrae Kim for 82,474,JiEun Son for 82,474, YongEun Kim for 20,619, Jihyun Park for 20,619, Hyunjun Lee for 30,929, ChangYong Lee for 10,309, and Donggu Lee for 20,619. On April 20, 2020, the company announced that the transaction is now expected to close on April 21, 2020. The bonds will now mature on April 21, 2023 and the conversion period is from April 22, 2021 to March 21, 2023. On April 21, 2020, the company announced that it has extended the offering period. The company now expects to close the transaction on April 28, 2020. The bonds will now mature on April 28, 2023. The conversion period will start from April 29, 2021 and ends on March 28, 2023. On April 28, 2020, the company announced that it has cancelled the transaction for the series 3 unregistered zero-coupon unguaranteed private convertible bonds due to non-payment by the investor.