Foodnamoo., Inc. announced a private placement to issue Series 2 Bearer-Type Non-Guaranteed Private Placement Convertible Bond for the gross proceeds of KRW 8,000,000,000 on November 8, 2023. The transaction has been approved by the shareholders of the company and is expected to close on November 10, 2023. The transaction will include participation from new investors Shinhan Investment & Securities Co., Ltd.for KRW 1,000,000,000, EBEST Investment & Securities Co., Ltd. for KRW 1,000,000,000, KB Securities Co., Ltd. for KRW 1,300,000,000, Samsung Securities Co., Ltd. for KRW 2,000,000,000, NH Investment & Securities Co., Ltd. for KRW 2,700,000,000.

The bonds carry a coupon rate and maturity rate of 0% and will mature on November 10, 2028. The bonds are fully convertible into 937,646 common shares at a conversion value of KRW 8,532 per share from November 10, 2024 to October 10, 2028.