EVR Studio announced a private placement of round 5 registered non-guaranteed private placement convertible bonds for gross proceeds of KRW 17,250,000,000 on May 11, 2022. The transaction will include participation from new investor Cheil Worldwide Inc. The bonds are convertible into 1,150,000 shares at conversion price of at a fixed conversion price of KRW 15,000 per share from May 16, 2024 to May 15, 2025. The coupon rate of bonds is 0% per annum.

The principal and principal are paid pro-rata from the issuance date of the bond to the payment date of the principal and interest at the guaranteed maturity rate 6% annual compounding interest. The date of subscription and expected date of payment is May 16, 2022. The bonds will mature on May 16, 2025.

The transaction is approved by the board of directors of the company.