DNA Link, Inc. announced a private placement of series 9 Domestic bearer interest-bearing unsecured private placement convertible bonds for the gross proceeds of KRW 15,000,000,000 on September 25, 2023. The bonds will bear a surface interest rate of 2% and interest rate to maturity of 4% and will mature on January 31, 2027. The bonds are fully convertible into 4,248,088 common shares of the company at conversion price of KRW 3,531 per share from January 31, 2025 to December 31, 2026.

The transaction will include participation from new investors Deokcheon Co., Ltd. for KRW 3,000,000,000, Stable Road Co., Ltd. for KRW 10,000,000,000 and Kobit Partners Co., Ltd. for KRW 2,000,000,000. The transaction has been approved by the shareholders of the company and is expected to close on January 31, 2024. The bonds are restricted to a hold period of one year from the date of issuance.