Softcen Co., Ltd. announced a private placement to issue Series 11 Bearer-Only Non-Secured Private Convertible Bond for the gross proceeds of KRW 10,000,000,000 on May 30, 2024. The transaction will include participation from investors Sangsangin Savings Bank for KRW 7,000,000,000 and Sangsangin Investment & Securities Co.,Ltd. for KRW 3,000,000,000. The transaction has been approved by shareholders of company and is expected to close on May 31, 2024.

The bonds bear 2% coupon rate and 6% maturity rate and matures on May 31, 2027. The bonds are 100% convertible into 15,822,784 common shares at an issue price of KRW 632 from May 31, 2025 to April 30, 2027. The securities are restricted to a hold period.