Bizplay Co., Ltd. announced that it will issue 1,304,348 shares at issue price of KRW 11,500 per share for total gross proceeds of KRW 15,000,002,000 on September 22, 2022. The included participation from new investors Hana Beyond Finance Fund, a fund managed by Hana Ventures Inc., an investment arm for 869,566 shares, NH Investment & Securities Co., Ltd. for 52,173 shares, Korea Investment & Securities Co., Ltd. for 34,782 shares, KB Securities Co., Ltd. for 43478 shares and Kookon Nv for 304,349 shares. The shares to be issued will have a restriction period of 12 months.

The preferred shares are convertible into 1,304,348 common shares of the company at the conversion price of KRW 11,500 per share. The conversion period will begin on October 7, 2025 and end on October 6, 2032. The company is expected to close the transaction on October 7, 2022.

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