JEIO Co., Ltd. announced a private placement to issue Series 1 Exchangeable With Bearer-Free Interest And Non-Guaranteed Private Placement Bonds for the gross proceeds of KRW 50,000,000,000 on May 2, 2024. The transaction will include a participation from new investors such as Lake Bridge No. 8 Private Equity Partnership for KRW 25,000,000,000 and Shinhan-DS Mezzanine New Technology Fund 1 for KRW 25,000,000,000.

The bonds will be exchangeable into 1,777,588 shares at a exchange price of KRW 28,128 per share in a exchange period starting from August 9, 2024 and ending on April 30, 2054 and the bonds will mature on May 9, 2054. The transaction is expected to close on May 9, 2024 and is approved by the board of directors of the company. The bonds bear zero coupon rate and 2% maturity rate.

The securities are restricted to a hold period.