PNIcompany.Co.,Ltd. announced a private placement of 475,841 redeemable convertible preferred shares at the price of KRW 4,760 per share for gross proceeds of KRW 2,265,003,160 on April 13, 2022. The transaction will include participation from New Wave Fund for 328,782 shares, Mirae Asset Securities Co., Ltd in the position of trustee of GVA Saber-G General Private Equity Trust for 5,312 shares, Mirae Asset Securities Co., Ltd. in the position of trustee of GVA Saber-V General Private Equity Trust for 9,054 shares, Samsung Securities Co., Ltd. in the position of trustee of GVA Fortress-V General Private Equity Trust for 4,656 shares. The par value of the shares is KRW 500.

The preferred stock is participatory and will have dividends of 1%. The company will increase capital through third party allocation. The redeemable convertible preferred shares will be converted into 475,841 shares during the conversion period of April 23, 2022 till April 22, 2032.

The shares will have repayment April 22, 2025. The transaction has been approved by the board of directors of the company. The transaction is expected to close on April 21, 2022.