THE MIDONG Co,. Ltd. announced a private placement of 4th bearer unsecured convertible bonds for the gross proceeds of KRW 20,000 on August 3, 2023. The bonds will have a coupon rate of 4% and will be 100% convertible into 6,576,783 common shares of the company at a conversion price of KRW 3.041.

The transaction will include participation from new investor, Midong Fund 1. The bonds will be matured on October 31, 2026. The transaction has been approved by the shareholders of the company. The bonds will be allotted through third-party allotment method.