Mstns Co.,Ltd. announced a private placement of series 2 Non-secured private equity bonds for gross proceeds of KRW 2,600,000,000 on August 5, 2020. The transaction will include participation from new investor Kancoms Co., Ltd. The bonds have zero coupon and 2% yield to maturity and will mature on August 18, 2023. The bonds can be 100% converted into 152,600 common shares of the company at a fixed conversion price of KRW 17,038 per share. The conversion period start date is August 18, 2021 and end date is August 4, 2023. The expected date of closing of the transaction is August 18, 2020. The transaction has been approved by the company's board of directors. The bonds issued are subject to restriction period of one year.

On August 11, 2020, the company changed conversion price to KRW 16,344 per share and bonds will be converted into 159,079 shares comprises 2.47% stake. The subscription date would be August 5, 2020.