Playgram Co., Ltd. announced a private placement of series 33 unregistered unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on July 4, 2022. The bonds have a coupon rate of 2.5% and yield to maturity of 5%. The bonds will mature on July 12, 2025.

The bonds will be 100% at a fixed conversion price of KRW 1,209 per share. The conversion period is from July 12, 2023 to June 12, 2025. The payment date of the transaction is July 12, 2022.

The transaction has been approved by the board of directors of the company. The bond issued at par. The securities issued are subject to a hold period of 1 year from the date of issuance.

The transaction will include participation from new investor INCON Co., Ltd. for KRW 20,000,000,000.