Hanchang Corporation announced a private placement of 4,000,000 common shares at a price of KRW 2,500 per share for gross proceeds of KRW 10,000,000,000 and Series 68 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 11,000,000,000; aggregate gross proceeds of KRW 21,000,000,000 on July 21, 2023. The transaction will include participation from new investor Aurise Investment Pty Limited. The company will issue shares of par value of KRW 500 per share through third party allocation capital increase method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 69,926,073 shares to 93,540,036 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is December 19, 2023.

Series 68 bonds - The transaction will include participation from returning investor Titan Equity Partners, LLC for KRW 11,000,000,000. The bonds are 100% convertible 22,000,000 shares at a fixed conversion price of KRW 500 from October 11, 2024
September 11, 2026. The bonds bear zero coupon rate and 3% maturity rate and matures on October 11, 2026. The transaction has been approved by the shareholders of the company expected to close on October 11, 2023.