Playgram Co., Ltd. announced a private placement of Series 35 bearer type convertible non-guaranteed private exchange bond for gross proceeds of KRW 15,000,000,000 on September 20, 2022. The transaction will include participation from new investors, ND Investment Co., Ltd. and Lauta Fund for KRW 7,500,000,000 each. The series 35 bonds will mature on September 22, 2025 having yield to maturity of 6%.

The bonds are fully convertible into 750,000 common shares of MDS Tech Inc. at a conversion price of KRW 20,000 per share and will be convertible between the period of October 6, 2022 and September 15, 2025. The subscription date and expected date of payment is September 22, 2022. The transaction has been approved by board of directors of the company.