Panstar Enterprise Co.,Ltd. announced a private placement of round 23 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 10,500,000,000 on November 29, 2021. The transaction will include participation from existing investor BNK Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, IBK Financial Group Synergy Ivy Business Reorganization New Technology Fund for KRW 1,000,000,000, Pivot Partners Co., Ltd. for KRW 1,500,000,000, Rich KOSDAQ Venture General Private Equity Investment Trust 1 for KRW 500,000,000, Moonchae Galilei KOSDAQ Venture Hedge Fund 2 trustee by NH Investment & Securities Co., Ltd for KRW 500,000,000, Asam Duron KOSDAQ Venture General Private Equity Trust 3, trustee by Shinhan Bank Co., Ltd for KRW 500,000,000, NH Absolute Mezzanine General Private Equity Trust 2 for KRW 500,000,000, NH Absolute KOSDAQ Venture Mezzanine Hedge Fund 1 for KRW 1,000,000,000, GVA Coven-V General Private Equity Trust for KRW 1,000,000,000, GVA Coven-i General Private Equity Trust (Professional Investor), trustee by Samsung Securities Co., Ltd for KRW 1,000,000,000, GVA Mezz-V2 General Private Equity Trust, trustee by Mirae Asset Securities Co for KRW 500,000,000, Time Folio It's Time-MG No. 2 General Private Equity Trust trustee by Samsung Securities Co., Ltd. for KRW 1,000,000,000 and Time Folio It's Time-Mezzanine General Private Equity Trust, trustee by Samsung Securities Co., Ltd. for KRW 500,000,000. The bonds will carry a coupon rate of 0%. The bonds have yield to maturity of 0% and would mature on December 01, 2024. The bonds will be fully convertible into 10,780,287 shares of the company at a fixed conversion price of KRW 974 per share from December 1, 2022 to November 1, 2024. The transaction has been approved by the board of directors of the company. The subscription date of bonds and the payment date is December 1, 2021. The securities issued are subjected to one-year hold period.