On August 25, 2022, Ev Soosung. Co., Ltd closed the transaction. The company has amended the terms of the transaction.

The company issued round 20 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 3,600,000,000. The transaction included participation from IT Convergence & Integration Investment Fund. The bonds carry coupon rate of 2% per annum and yield to maturity of 5% per annum.

The bonds are issued at par and will mature on August 25, 2025. The company are 100% convertible into 2,028,169 common shares at a conversion price of KRW 1,775 per share from August 26, 2023 to July 26, 2025. The subscription date is on August 25, 2022 and the payment date is on August 26, 2022.