RFsemi Technologies, Inc. announced a private placement to issue 4,942,339 common shares at an issue price of KRW 4,249 per common share for the gross proceeds of KRW 20,999,998,411 and, series 5 unregistered coupon unguaranteed private convertible bonds for the gross proceeds of KRW 40,000,000,000 for aggregate gross proceeds of KRW 60,999,998,411 on March 31, 2023. The transaction will include participation from Jinpyeng Electronics Company for 4,706,990 shares, individual investor, Jeong Ji-hye for 235,349 shares, Black Pearl Fund 1 for KRW 30,000,000,000 and Black Pearl Fund 2 for KRW 10,000,000,000. The transaction has been approved by the shareholders of the company. The expected date of payment by Jinpyeng Electronics Company is May 30, 2023 and by Jeong Ji-hye is April 10, 2023. The shares are restricted to a hold period of one year from the date of issuance. The method of capital is through third party allocation.

Series 5 Bonds - The bonds bear 3% coupon rate, 5% yield to maturity and will mature on May 19, 2025. The bonds are 100% convertible into 7,630,675 common shares at a fixed conversion price of KRW 5,242 from May 19, 2024 to April 19, 2025. The transaction of series 5 bonds are expected to close on May 19, 2023. The bonds are restricted to a hold period of one year from the date of issuance. The transaction has been approved by the shareholders of the company.