GGUMBI Inc. announced a private placement to issue Series 1 Bearer-Bearing Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000 on April 15, 2024. The transaction will include participation from new investors Shinhan Investment & Securities Co., Ltd. for KRW 2,000,000,000, KB Securities Co., Ltd. (in the position of trustee of Funds 1, 2, and 3) for KRW 2,500,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 4) for KRW 2,000,000,000, The Korea Securities Finance Corporation (in the position of trustee for Funds 5, 6, and 7) for KRW 2,000,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 8) for KRW 500,000,000, Mirae Asset Securities Co., Ltd. (in the position of trustee of Funds 9 and 10) for KRW 1,000,000,000, KB Securities Co., Ltd. (in the position of trustee of Fund 11) for KRW 1,500,000,000, KB Securities Co., Ltd. (in the position of trustee of Fund 12) for KRW 1,500,000,000, KB Securities Co., Ltd. (in the position of trustee of Fund 13) for KRW 1,500,000,000, KB Securities Co., Ltd. (in the position of trustee of Fund 14) for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 15) for KRW 500,000,000, KB Securities Co., Ltd. (in the position of trustee of Fund 16) for KRW 500,000,000, Samsung Securities Co., Ltd. (in the position of trustee of Fund 17) for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 18) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. (in the position of trustee of Fund 19) for KRW 700,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 20) for KRW 300,000,000 and NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 21) for KRW 500,000,000. The transaction has been approved by the shareholders of the company and is expected to close on April 17, 2024.

The bonds are 100% convertible into 2,266,032 shares at a fixed conversion price of KRW 8,826 from April 17, 2025 to March 17, 2029. The bonds bear zero coupon rate, 1% maturity rate and matures on April 17, 2029 and is restricted to hold period.