HLB GLOBAL Co., Ltd. announced a private placement to issue Series 32 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 21,400,000,000 on April 6, 2023. The transaction will include participation from returning investor Korea Investment & Securities Co., Ltd. (in the position of trustee of Fund 1) for KRW 500,000,000, Korea Investment & Securities Co., Ltd. (in the position of trustee of Fund 2) for KRW 500,000,000, Similis Fund for KRW 6,000,000,000, Jong-seong Kim for KRW 700,000,000, Donghee Lee for KRW 600,000,000, Jeonghee Kim for KRW 500,000,000, Jisub So for KRW 500,000,000, Byung-sul Yoo for KRW 500,000,000, Kwangho Lee for KRW 500,000,000, Je-geol Myeong for KRW 200,000,000, Jeonghee Kwon for KRW 500,000,000, Jini Kim for KRW 500,000,000, Jihoon Park for KRW 1,000,000,000, Sujin Kim for KRW 1,000,000,000, Dae-dae Kim for KRW 500,000,000, Kyunghee Koh for KRW 500,000,000, Eun-hyung Lim for KRW 300,000,000, Eunhee Lee for KRW 100,000,000, Hyungcheol Kang for KRW 500,000,000, new investors Haicat Innovation No. 3 Fund for KRW 5,000,000,000, Emoi Co., Ltd. for KRW 500,000,000, and EC Partners Korea Co., Ltd. for KRW 500,000,000.

The bonds bear 2% coupon rate and 2% maturity rate and will mature on April 20, 2026. The bonds are 100% convertible into 3,447,720 shares at a fixed conversion price of KRW 6,207 from April 20, 2024 to March 20, 2026. The transaction has been approved by the board of directors and is expected to close on April 20, 2023.

The bonds are restricted to a hold period of one year from the date of issuance.