WIZ CORP, Inc. announced a private placement of series 2 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 10,500,000,000 on June 2, 2023. The transaction included participation from new investors Kospol Co., Ltd., Makus Investment Co., Ltd., Fine M-Tec CO.,LTD, Amicus Asset Management Co., Ltd., MIA Investment Advisory Co., Ltd., DC&G Co., Ltd., ANG Holdings,Biz & Co., Ltd., Stride Partners Co., Ltd., Codes Co., Ltd. and ODTech Co., Ltd. The bonds will carry 0% coupon rate and maturity rate of 2% and will mature on June 7, 2026 and will be 100% convertible into 12,367,491 common shares of the company at a fixed conversion price of KRW 849 per share from June 7, 2024 to May 7, 2026. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on June 7, 2023.