Foodnamoo., Inc. announced a private placement to issue 595,378 Registered voting rights convertible preferred stock at an issue price of KRW 8,398 for the gross proceeds of KRW 4,999,984,444 on December 18, 2023. The transaction will include participation from new investors The Korea Securities Finance Corporation for (in the position of trustee of ?Fund 1?) for 107,168 shares, The Korea Securities Finance Corporation (in the position of trustee of ?Fund 2?) for 154,798, The Korea Securities Finance Corporation (in the position of trustee of ?Fund 3?) for 83,353 shares, Shinhan Bank (in the position of trustee of ?Fund 4?) for 107,168 shares and Shinhan Bank (in the position of trustee of ?Fund 5?) for 142,891 shares. The securities are convertible into 595,378 common shares at a fixed conversion price of KRW 8,398 from January 3, 2025 to December 26, 2028.

The securities are matured on December 27, 2028. The transaction has been approved by the shareholders of the company and is expected to close on December 26, 2023.