Korea Cable T.V Chung-Buk System Co., Ltd. announced a private placement of series 13 non-guaranteed private placement convertible bonds for gross proceeds of KRW 20,000,000,000 on September 26, 2023. The transaction will include participation from WF control combination. The bonds have coupon interest rate of 5% and will mature on April 25, 2027.

The bonds will be 100% converted into 17,316,017 common shares at a fixed conversion price of KRW 1,155 per share for an equity stake of 23.61%. The conversion period is from April 25, 2025 to March 25, 2027. The securities issued in the transaction are subject to a lock up period of one year.

The transaction has been approved by the board of directors of the company.