Playgram Co., Ltd. announced a private placement of 3rd series unsecured privately placed convertible bonds for gross proceeds of KRW 45,500,000,000 on March 14, 2023. The transaction will include participation from new investor, Octava Fund Limited. The bond carry coupon rate of 0% and have yield to maturity of 4.12%.

The bonds will mature on March 20, 2026. The bonds will be 100% convertible into 12,874,929 common shares of the company, representing 21.07% of the total number of shares at a fixed conversion price of KRW 3,534 per share. The conversion period is from March 20, 2024, to February 20, 2026.

The transaction has a subscription date of March 15, 2023, and payment date of March 20, 2023. The transaction has been approved by the board of directors of the company.