HB Solution Co.,Ltd. announced a private placement of the 1st bearer type unsecured privately placed convertible bonds for gross proceeds of KRW 40,000,000,000 on August 22, 2023. The transaction included participation from returning investor HB Technology CO.,LTD. for 14,614,292 shares for 22.37% stake and individual investor Jaewon Lee for 231,056 shares for 0.35% stake. The bonds carry coupon rate and maturity rate of 0% and will mature on October 22, 2026.

The bonds are fully convertible into common shares at a conversion price of KRW 3,616 per share from August 22, 2023 to September 22, 2026. The transaction has been approved by the shareholders of the company.