Bizplay Co., Ltd. announced that it will issue 2,663,951 redeemable convertible preferred stock at a price of KRW 12,275 per convertible preferred stock for gross proceeds of KRW 32,699,998,525 on March 28, 2024. The transaction include the participation from new investors Kwangju Bank Co., Ltd. issue 1,221,996 shares, JB Financial Group Co., Ltd issue 708,758 shares, The Jeonbuk Bank Ltd issue 488,798 shares and Yanolja Co., Ltd issue 244,399 shares. The company will issue the shares through Third-party capital increase method.

The preferred stock is convertible into 2,663,951 common shares of the company. The conversion period is from April 13, 2024 to April 13, 2024. The transaction is expected to close on April 12, 2024.