TOP MATERIAL Co., Ltd announced a private placement to issue 4th bearer-type non-guaranteed private convertible bond for the gross proceeds pf KRW 42,000,000,000 and 5th bearer-type non-guaranteed private convertible bond for the gross proceeds pf KRW 18,000,000,000 for the total gross proceeds of KRW 60,000,000,000 on October 25, 2023. The transaction is expected to close on October 31, 2023. The transaction has been approved by the board of directors of the company.