Alticast Corporation announced a private placement of series 6 bearer-bearing interest-bearing, unsecured private placement convertible bonds for gross proceeds of KRW 3,500,000,000 on August 16, 2023. The transaction will include participation from The bonds have yield to maturity of 3%. The bonds will mature on August 18, 2028.

The bonds will be 100% converted into 2,220,812 common shares at a fixed conversion price of KRW 1,576 per share for an equity stake of 7.48%. The conversion period is from August 18, 2024 to July 18, 2028. The payment date of the transaction is April 30, 2021.

The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.