Pulmuone Corporate announced a private placement to issue Series 70 Bearer Interest Unsecured Subordinated Private Placement Convertible Bonds for the gross proceeds of KRW 40,000,000,000 and Series 71 Bearer Interest Unsecured Subordinated Private Placement Convertible Bonds for the gross proceeds of KRW 60,000,000,000 for the total gross proceeds of KRW 100,000,000,000 on September 1, 2023. The transaction will include participation from new investors Lohas Private Equity Fund Co., Ltd for KRW 87,500,000,000, IBK-Kiwoomp Business Recorganizaion Private Equity Fund Co., Ltd for KRW 7,500,000,000, Kiwoom New Hero Digital Technology Innovation Fund V for KRW 5,000,000,000. The transaction has been approved by the shareholders of the company and is expected to close on September 5, 2023.

The bonds bear 2% coupon rate and 8% maturity rate and matures on September 5, 2053. The bonds are 100% convertible into 3,533,881 shares at a fixed conversion price of KRW 11,319 from September 6, 2024 to August 5, 2053. The transaction is restricted to a hold period.