SONOKONG Co., Ltd. announced a private placement of series 8 domestic unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 5,000,000,000 on September 3, 2021. The transaction will include participation from Eugene Investment & Securities Co.,Ltd. The bonds have a coupon rate of 0% and yield to maturity of 1%. The bonds will mature on Sep 07, 2024.

The bonds will be 100% converted into 1,838,235 common shares at a fixed conversion price of KRW 2,720 per share for an equity stake of 6.40%. The conversion period is from Sep 07, 2022 to August 07, 2024. The payment date of the transaction is September 7, 2021.

The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.