RaemongRaein Co., Ltd. announced that it expects to receive KRW 8.9999231 billion in funding from JB Woori Capital Co., Ltd, CS Advisors Co., Ltd., Korea Investment & Securities Co., Ltd., Shinhan Bank, NH Investment & Securities Co., Ltd.

RaemongRaein Co., Ltd. announced a private placement of 414,743 convertible preferred shares at an issue price of KRW 21,700 for a gross proceeds of KRW 8,999,923,100 on December 26, 2022. The transaction will include participation from JB Woori Capital Co., Ltd, CS Advisors Co., Ltd., Shinhan Bank, Korea Investment & Securities Co., Ltd. and NH Investment & Securities Co., Ltd. The transaction is expected to close on January 4, 2023. The convertible preferred stock is convertible into 414,743 common shares.

The conversion period is from January 05, 2024 to January 04, 2033.