Bucket Studio Co., Ltd. announced private placement of 12,406,948 convertible preferred shares at an issue price of KRW 2,418 for gross proceeds of KRW 30,000,000,264 on August 8, 2022. The transaction will include participation from new investor Eche No.1 Fund. The preferred shares to be issued have a par value of KRW 500 per share.

The securities are issued through third party allotment method. The transaction was approved the board of directors of the company. The securities issued are participating and cumulative preferred shares, with of Conversion ratio: 1 to 1 and receive 0% annual dividend.

The conversion period starts on October 27, 2023 to September 27, 2032. The expected payment date is October 26, 2022. The transaction has been approved by the board of directors.

The securities carry a hold period of one year.