Mr. Blue Corporation announced a private placement of series 2 bearer type non-guaranteed private placement convertible bonds for gross proceeds of KRW 15,000,000,000 and series 3 bearer no guarantee private bonds for gross proceeds of KRW 10,000,000,000; for an aggregate gross proceeds of KRW 25,000,000,000 on February 7, 2022. The transaction will include participation from Harvest No. 3 Private Equity Fund. The bonds will not carry any interest rate, will have 1% maturity rate and will mature on February 11, 2027. The bonds will be fully convertible into 1,779,992 shares of the company at a fixed conversion price of KRW 8,427 per share between the conversion period starting from February 11, 2023 to February 10, 2027. The subscription date is February 7, 2022 and the payment date is February 11, 2022. The transaction has been approved by the board of directors of the company.

On May 16, 2022, the company announced series 3 bearer no guarantee private bonds will be convertible into 1,226,143 shares of the company at a fixed conversion price of KRW 7,898 per share between the conversion period.

On August 11, 2022, the company announced series 3 bearer no guarantee private bonds will be convertible into 2,224,859 shares of the company at a fixed conversion price of KRW 6,742 per share between the conversion period.

On December 12, 2022, , the company announced series 3 bearer no guarantee private bonds will be convertible into 2,224,859 shares of the company at a fixed conversion price of KRW 2,248 per share between the conversion period.