ICD Co., Ltd announced a private placement to issue Series 5 Bearer-bearing interest-bearing, unsecured private placement convertible bonds for a gross proceeds KRW 25,000,000,000 on April 24, 2024. The transaction includes participation from Shinhan Investment & Securities Co., Ltd., Kiwoomfni Co., Ltd., Hanyang Securities Co., Ltd, KB Securities Co., Ltd., Mirae Asset Securities Co., Ltd. NH Investment & Securities Co., Ltd, Samsung-Rhinos Mezzanine New Technology Fund No. 1, JB-Rhinos Mezzanine New Technology Fund and Hanyang Time Mezzanine New Technology Fund.

The Notes bear interest rate of zero percent and matures on April 26, 2029. The notes are convertible into 2,726,578 shares with a conversion price of KRW 9,169 per share representing conversion rate of 14.32%. Conversion claim period is April 26, 2025 to March 26, 2029.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on April 26, 2024.