On February 27, 2023, H&B Design Co., Ltd. closed the transaction. The company will now issue series 7 bearer type private equity convertible bond for gross proceeds of KRW 4,450,000,000. The transaction included participation from individual investors, Dae-woong Ko for KRW 1,700,000,000, Jonghoon Lee for KRW 750,000,000, Samyeong Hong for KRW 1,600,000,000 and Hyuncheol Kim for KRW 400,000,000.

The bonds will carry 0% coupon rate, 4% yield to maturity rate, will mature on February 27, 2028 and will be 100% convertible into 1,189,520 common shares of the company at a fixed conversion price of KRW 3,741 per share from February 27, 2024 to January 27, 2028.