DAVOLINK Inc. announces private placement of KRW 15,000,000,000 of Series 2 Unsecured Convertible bonds on October 19, 2023. The bonds bear a coupon interest rate of 2% and Maturity interest rate of 4%. The bonds will mature on December 20, 2026.

The bonds can be converted in to company's common stock at a conversion price of KRW 2,268 at a 100% conversion rate. The conversion claim period starts from December 20, 2024 to November 20, 2026. The transaction has been approved by the board of the company.

The transaction is expected to close on December 20, 2023. The transaction will include participation from MI Square Co., Ltd. The bonds are restricted to a hold period of one year from the date of issuance.