On April 13, 2022, TOBESOFT Co., Ltd. closed the transaction. The company has amended the terms of the transaction and issued series 14 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,010,000 in its second tranche closing. The transaction included participation from Bella Lab Co., Ltd. for series 14 bonds.

The series 14 bonds will bear a fixed interest rate of 0%, yield to maturity rate of 1.135%, will mature on April 13, 2025, and will be fully convertible into 3,278,695 common shares, representing 8.03% stake in the company, at a fixed conversion price of KRW 1,525 per share from April 13, 2023 to March 13, 2025. The transaction has been approved by board of directors of the company.