JOONGANG DNM Co.,Ltd announced a private placement of 16,129,000 common shares at the price of KRW 620 per common share for gross proceeds of KRW 9,999,980,000 and series 12 usecured privately placed convertible bonds with bearer interest for the gross proceeds if KRW 10,000,000,000; for aggregate gross proceeds of KRW 19,999,980,000 on December 9, 2022. The transaction will include participation from returning investor, HF Networks Co., Ltd. for 8,064,500 shares, other investor Active Value Asia Partners Co., Ltd. for 8,064,500 shares and B&M Solution Fund. The payment date for the transaction is February 23, 2023. The company issued shares through third party allocation method. The transaction has been approved by the board of directors of the company.

For Series 12 Bonds - The The bonds carry a rate coupon rate of 6% and Interest rate of 6%. The series 12 bonds will mature on March 31, 2026. The bonds are 100% convertible into 13,966,480 common shares of the company at a fixed conversion price of KRW 716 per share. The conversion period for bonds will start from March 31, 2024 and will end on February 28, 2026. The transaction is expected to close on March 31, 2023.