Sejong Telecom, Inc. announced that it expects to receive KRW 50 billion in funding from a group of investors

Sejong Telecom, Inc. announced a private placement of Round 9 Unsecured privately placed exchangeable bonds with bearer interest for gross proceeds of KRW 50,000,000,000 on May 26, 2023. The transaction will include participation from NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 1 in this case) for KRW 500,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 2 in this case) for KRW 500,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 10 in this case) for KRW 100,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 11 in question) for KRW 300,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 12 in question) for KRW 1,600,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 18 in question) for KRW 7,000,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 19 in question) for KRW 3,000,000,000, NH Investment & Securities Co., Ltd. for KRW 3,000,000,000, NH Investment & Securities Co., Ltd. for 1,000,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 3 in question) for KRW 600,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 4 in this case) for KRW 100,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 5 in question) for KRW 100,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 6 in question) for KRW 100,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 13 in question) for KRW 1,800,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 14 in question) for KRW 1,200,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 15 in question) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. (In the position of trustee of Fund 16 in question) for KRW 4,000,000,000, Korea Investment & Securities Co., Ltd. (In the position of trustee of Fund 17 in question) for KRW 11,000,000,000, Hanyang Securities Co. Ltd. for KRW 5,000,000,000, Hana Investment Banking & Securities Inc. for KRW 3,000,000,000 and BFA Co.,Ltd. for KRW 1,000,000,000.

The debt maturity date is May 31, 2025. The bonds carry a surface interest rate of is 0.0%, and there is no separate interest payment date. The bonds will be convertible into 656,167 common shares at a conversion price of KRW 76,200.

The conversion period will start from June 8, 2023 and end on April 30, 2025. The subscription date and the payment date is May 31, 2023. The transaction was approved by the company's board.

The bonds carry a hold period of one year.