EOFLOW Co.,Ltd. announced a private placement of series 2 unregistered coupon unguaranteed private convertible bond for gross proceeds of 32,000,000,000 on February 21, 2023. The transaction will include participation from Korea Investment & Securities Co., Ltd., Investment Arm, Mirae Asset Securities Co., Ltd, investment arm, Kiwoom Securities Co., Ltd., Investment Arm, SUSUNG ASSET MANAGEMENT Co., Ltd. and New Vision Wave Orbit New Technology Investment Fund. The series 2 bonds will have a coupon rate of 1% and yield to maturity rate of 3%, maturing on February 27, 2028.

The bonds are fully convertible into 1,400,560 shares of the company at an issue conversion price of KRW 22,848 per share between the period starting from February 27, 2024 and ending on January 27, 2028. The bonds have a hold period of one year from the date of issuance. The transaction has been approved by board of directors of the company.

The expected subscription date is February 23, 2023 and expected date of payment is February 27, 2023.