Metalabs Co., Ltd. announced a private placement of series 12 unregistered coupon nonguaranteed private convertible bond for an aggregate gross proceeds of KRW 12,000,000,000 on September 1, 2021. The transaction will include participation from BNS Investment Ltd. The bonds will carry rate of interest of 2% and maturity rate of 3% per annum. The bonds will mature on October 29, 2024. The bonds will be convertible into 10,647,737 common shares of the company at a conversion price of KRW 1,127 per share. The conversion period will start from October 29, 2022 and end on September 29, 2024. The transaction is expected to close on October 29, 2021. The transaction has been approved by the board of directors of the company.