Volvik Inc. announced a private placement of series 6 named non-guaranteed private placement convertible bonds for gross proceeds of KRW 3,000,000,000 on June 28, 2023. The transaction will include participation from new investor, Samwoo HJ Co., Ltd. The zero coupon bonds have yield to maturity rate of 10% and will mature on July 5, 2028. The bonds are fully convertible into 936,037 common shares at an issue conversion price of KRW 3,205 per share between the period starting from July 5, 2025 and ending on June 4, 2028.

The securities have a hold period of one year from the date of issuance. The expected date of payment is July 5, 2023. The transaction has been approved by board of directors of the company.