MFM KOREA Co., Ltd. announced a private placement of 5,984,440 common shares at the price of KRW 1,671 per share for gross proceeds of KRW 9,999,999,240, Series 7 bonds for the gross proceeds of KRW 7,000,000,000, Series 9 convertible bonds for the gross proceeds of KRW 7,000,000,000; aggregate gross proceeds of KRW 23,999,999,240 on October 6, 2023. The transaction will include participation from new investor Jiangsu Lianhuan Pharmaceutical Co., Ltd. The company will issue shares of par value of KRW 100 per share through third party allocation capital increase method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 34,986,951 shares to 40,971,391 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is November 24, 2023.

Series 8 bonds - The transaction will include participation from new investor VTM No.1 Fund. The bonds are 100% convertible into 3,657,262 common shares at a fixed conversion price of KRW 1,914 from November 28, 2024 to October 28, 2026. The series 8 bonds will mature on November 28, 2026. The transaction of Series 8 bonds is expected to close on November 28, 2023. The bonds bears zero coupon rate and maturity rate of 3%.

Series 9 bonds - The transaction will include participation from new investor Frontosa Investment Fund. The series 9 bonds are 100% convertible into 3,657,262 common shares at a fixed conversion price of KRW 1,914 from January 24, 2025 to December 24, 2026. The bonds will mature on January 24, 2027. The bonds bears zero coupon rate and maturity rate of 3%. The payment date of series 9 bonds is January 24, 2023.