Sangsangin Co., Ltd announced a private placement of series 14 bearer type unguaranteed private exchange bond for gross proceeds of KRW 5,768,553,350 on February 11, 2022. The transaction will include participation from The bonds do not carry any interest and maturity rate of 1%. The bonds are fully convertible at a fixed conversion price of KRW 9,550 per share into 604,037 common shares from May 15, 2022 to January 15, 2027.

The transaction is expected to close on February 15, 2022. The transaction has been approved by the board of directors.