Playgram Co., Ltd. announced a private placement of Series 37 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of up to KRW 3,000,000,000 on January 10, 2024. The transaction will include participation from new investor, Cosnine, Inc. for KRW 2,000,000,000 and individual investor, Kyung Jae Lee for KRW 1,000,000,000. The bonds will mature on January 12, 2027.

The bonds are fully convertible into 4,885,993 common shares at a conversion price of KRW 614 per share in a period from January 12, 2025 to December 12, 2026. The transaction is expected to close on January 12, 2024. The transaction has been approved by the board of directors of the company.