Msgoc Co. Ltd. announced a private placement of 10th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 1,500,000,000 on July 26, 2022. The transaction will include participation from GVA Fortress-A General Private Equity Trust of Mirae Asset Securities Co.

Ltd. for KRW 1,350,000,000, GVA Saber-G General Private Equity of Mirae Asset Securities Co. Ltd. for KRW 45,000,000 and Mirae Asset Securities Co., Ltd. for KRW 105,000,000. The bonds will not carry any interest and carry 2% maturity rate.

The bonds will mature on July 27, 2026. The bonds will be fully convertible into 566,037 shares at a fixed conversion price of KRW 2,650 per share between the period of July 27, 2023 to June 27, 2026. The payment date is July 27, 2022.

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