Skymoons technology, Inc. announced a private placement to issue 1% Series 3 Interest Bearing Unsecured Private Placement Convertible Bonds Due July 1, 2027 for the gross proceeds of KRW 70,000,000,000 on April 29, 2024. The bonds are 100% convertible into 46,204,620 common shares at a conversion price of KRW 1,515 per share at a conversion period starting from July 1, 2025 and ending on June 1, 2027. The bonds will bear interest rate of 1% and will mature on July 1, 2027.

The transaction will include participation from new investor, Zoomwe Hong Kong New Energy Technology Co., Limited. The transaction is expected to close on July 1, 2024. The transaction has been approved by the board of directors of the company.