Green Plus Co., Ltd. announced a private placement of 1,034,482 convertible preferred shares at a price of KRW 14,500 per share for gross proceeds of KRW 14,999,989,000 on December 16, 2021. The company is raising funding through 3rd party allocation increase. The preferred stock is convertible into common stock.

The transaction will include participation from SBI New Growth Support PEF, a fund managed by SBI Investment KOREA Co., Ltd. for 689,655 shares and AJU Good 2nd Private Equity Fund Co., Ltd for 344,827 shares. The securities issued will be subject to hold period of one year. The payment date is December 23, 2021.

The new stocks are cumulative, redeemable and participating preferred stocks with priority for dividends, and the annual preferred dividend rate is 1% of the par value of each new stock.