Wishbin Co., Ltd. announced a private placement of 1st bearer type registered non-secured private convertible bonds for gross proceeds of KRW 1,600,000,000 on September 5, 2023. The transaction will include participation from new investor, LifeSemantics Corp. The bonds will carry 5% Interest Rate will mature on September 8, 2028 and will be 100% convertible into common shares of the company at a fixed conversion price of KRW 8,000 per share from October 8, 2023 to September 7, 2028.

The transaction has been approved by the board of directors of the company. The payment date is on September 8, 2023.