Benoholdings, Inc. announced a private placement of 10th unregistered unsecured private placement convertible bonds for gross proceeds of KRW 22,000,000,000 on March 20, 2023. The bonds will bear a zero coupon rate. The transaction included participation from Termini
Consortium for KRW 10,000,000,000, Bellum Fund 1 for KRW 10,000,000,000, and Dayton Street Co., Ltd for KRW 2,000,000,000. The bonds will mature on May 19, 2026. The bonds will be 100% converted into 8,055,657common shares at a fixed conversion price of KRW 2,731 per share. The conversion period of the bonds is from May 19, 2024 to April 18, 2026. The company is expected to close the transaction on May 19, 2023.