DaeChang Solution Co., Ltd. announced a private placement to issue Series 3 Non-Guaranteed Private Placement Convertible Bonds for the gross proceeds of KRW 8,000,000,000 on October 13, 2023. The transaction will include participation from new investor K&T-Daishin New Technology Fund 3. The bonds bear 2% coupon rate and 4% maturity rate and is matured on October 17, 2028. The bonds are 100% convertible into 14,362,657 common shares at a fixed conversion price of KRW 557 from October 17, 2024 to September 17, 2028.

The transaction has bene approved by the shareholders of the company and is expected to close on October 17, 2023. The securities are restricted to a hold period of one year.