WIZIT Co., Ltd. announced that it will issue Series 10 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 5,000,000,000 on January 26, 2024. The transaction will include participation from new investor K Semiconductor Level Up Investment Fund for KRW 5,000,000,000. The bonds are 100% convertible into 5,931,198 shares at a fixed conversion price of KRW 843 from February 2, 2025 to January 2, 2027.

The bonds bear 5% maturity rate and 5% coupon rate and February 2, 2027. The transaction has been approved by the shareholders of the company and is expected to close on February 2, 2024. The securities are restricted to a hold period of 1 year.