iWIN CO.,LTD announced a private placement to issue Series 7 Domestic Bearer Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 6,000,000,000 on February 26, 2024. The transaction will include participation from returning investor BTC Investment for KRW 1,000,000,000 and new investors Bithumb Korea Co., Ltd. for KRW 3,000,000,000 and Mattee Flower Inc. for KRW 2,000,000,000. The bonds are 100% convertible into 4,319,654 shares at a fixed conversion price of KRW 1,389 from February 28, 2025 to January 28, 2027.

The bonds bear 3% coupon rate and 7% maturity rate and matures on February 27, 2027. The securities are restricted to a hold period of 1 year. The transaction has been approved by the shareholders of the company and is expected to close on February 28, 2024.