Synergy Innovation Co., Ltd. announced a private placement of series 12 domestic non guaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on August 12, 2021. The transaction will include participation from HisStory Investment Management for KRW 1,000,000,000, Hana Ventures Inc. for KRW 2,000,000,000, Zenitas New Technology Business Investment Fund 1 for KRW 2,940,000,000, Zenitas New Technology Business Investment Fund 3 for KRW 60,000,000, funds managed by Zenitas Investment Co.,Ltd., Mirae Asset Capital Co., Ltd for KRW 1,000,000,000, NBH Capital Inc. for KRW 1,000,000,000, New Growth One New Technology Fund II, a fund managed by Axis Investment Co., Ltd. FOR krw 1,000,000,000, Hanyang Securities Co. Ltd. for KRW 1,000,000,000, Anda Cruise Hedge Fund 1 (This Fund 1) for KRW 800,000,000, Anda Voyager Hedge Fund 1 (This Fund 2) for KRW 200,000,000, GVA Fortress-A Hedge Fund (Fund 3) for KRW 1,800,000,000, GVA Saber-V Hedge Fund (Fund 4) for KRW 200,000,000, of NH Absolute Return Hedge Fund 1 for KRW 1,000,000,000, and of NH Absolute Mezzanine Hedge Fund 2 (This Fund 6) for KRW 1,000,000,000.

The bonds carry zero interest rate and will mature on August 13, 2025. The bonds are 100% convertible into 2,768,549 common shares at a conversion price of KRW 5,418. The conversion period is from August 13, 2022 to July 13, 2025.

The transaction has been approved by board of directors of the company and is expected to close on August 13, 2021. The securities issued will be issued to restriction period of one year from issuance.