Dragonfly GF Co., Ltd announced a private placement to issue Series 18 Bearer-Bearing Interest-Bearing Unsecured Convertible Bonds for the gross proceeds of KRW 5,000,000,000 on November 27, 2023. The transaction will include participation from new investor One O One Invest Fund No. 1. The transaction has been approved by the shareholders of the company and is expected to close on February 29, 2024.

The bonds bear 1% interest and 1% maturity rate and matures on February 28, 2027. The bonds are 100% convertible into 6,305,170 shares at a fixed conversion price of KRW 793 from March 1, 2025 to January 29, 2027. The securities are restricted to a hold period of 1 year.