ILWOUL GML Co.,Ltd announced a private placement of series 15 unregistered coupon unguaranteed private convertible bond for gross proceeds KRW 7,000,000,000, series 16 unsecured coupon unguaranteed private convertible bond for the gross proceeds of KRW 3,000,000,000, for the total aggregate gross proceeds of KRW 10,000,000,000 on April 19, 2023. The transaction will include participation from new investor I.W Fund 1 for KRW 7,000,000,000 and IW No. 2 Fund for KRW 3,000,000,000.

The series 15 bond are 100% convertible into 3,500,000 shares at a conversion price of KRW 2,000 per share from May 25, 2024, to April 25, 2026. The series 16 bond are 100% convertible into 1,500,000 common shares of the company at a price of KRW 2,000 from May 25, 2024 to April 25, 2026. The bonds carry interest rate of 1% with maturity rate of 4%.

The bonds will mature on May 25, 2026. The transaction has been approved by shareholders of the company. The transaction is expected to close on May 25, 2023.

The bonds issued in the transaction are subject to holding period of 1 year.