Dawonsys Co.,Ltd. announced that it will issue series 7 non guaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on February 24, 2023. The notes will bear zero coupon and yield to maturity at 5%. The notes will have the maturity date of February 28, 2026.

The notes are convertible at a conversion price of KRW 10,270 for 1,705,320 common shares of the company. The conversion period will start from February 28, 2024 and ends at January 28, 2026. The transaction is expected to close on February 28, 2023.

The transaction has been approved by the board of directors of the company.