HYUNGJI INNOVATION & CREATIVE Co.,Ltd announced a private placement to issue Series 10 Bearer Interest Unsecured Private Placement Rights Subordinate Bonds for the gross proceeds of KRW 3,500,000,000 on May 21, 2024. The transaction will include participation from new investors Sangsangin Savings Bank for KRW 2,300,000,000, Sangsangin Plus Savings Bank Co.,Ltd. for KRW 1,000,000,000, KB Securities Co., Ltd. (Poome General Private Equity Investment) for KRW 200,000,000. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on May 23 2024.

The bonds bear 2% coupon rate, 5.5% maturity rate and matures on May 23, 2027. The bonds are 100% convertible into 4,065,040 shares at a fixed conversion price of KRW 861 from May 23, 2025 to April 23, 2027.