CAELUM Co., Ltd. announced that it will issue 5,069,708 convertible preferred shares at a price of KRW 3,945 for gross proceeds of KRW 19,999,998,060 on July 8, 2022. The transaction will include participation from Quinvir Investment Co., Ltd. The shares will be issued via third party allotment. The preferred shares will be convertible into 5,069,708 common shares at a conversion price of KRW 4,378 per share.

The conversion period of the shares will be from August 31, 2023 to July 31, 2025. The transaction is expected to close on August 31, 2022. All securities issued in the transaction will be subject to a hold period of one year from the closing date.