Synergy Innovation Co., Ltd. announced a private placement to issue Series 14 Domestic Bearer-Type Private Placement Convertible Bonds for the gross proceeds of KRW 39,000,000,000 on December 11, 2023. The transaction will include participation from new investors such as IBK Financial Group-DS Green Finance Fund, Kiwoom-DS Mezzanine Blind New Technology Fund, JB Mezzanine New Technology Business Fund No. 2, JB Woori Capital Co., Ltd, Hanwha Investment & Securities Co., Ltd., Hana Bank Co., Ltd., NH Investment & Securities Co., Ltd., C&C Five Co., Ltd., 3WP Co., Ltd. and returning investors such as IBK Capital Corporation and KDB Capital Corporation, Investment Arm, Mirae Asset Capital Co., Ltd., KB Securities Co., Ltd. and Samsung Securities Co., Ltd. The bonds will be convertible at a conversion price of KRW 2,799 in a period of starting from December 22, 2024 and ending on November 22, 2027.

The bond has a coupon interest rate of 0% and the maturity date of the bond is December 22, 2027. The transaction is expected to close on December 22, 2023. The transaction has been approved by the board of directors of the company.