The Asia Business Daily Co., Ltd. announced a private placement to issue Series 5 Bearer-Bearing Interest-Bearing, Unsecured Private Convertible Bonds for the gross proceeds of KRW 9,200,000,000 on February 21, 2024. The transaction will include participation from new investor No. 41 New Technology Fund for KRW 9,200,000,000.

The bonds bear 2% interest rate and 4% maturity rate and matures on February 22, 2029. The bonds are 100% convertible into 7,615,894 shares at a fixed conversion price of KRW 1,208 from February 22, 2025 to January 22, 2029. The transaction has been approved by the shareholders of the company and is expected to close on February 22, 2024.

The securities are restricted to a hold period.