Softcen Co., Ltd. announced a private placement of 9th unregistered coupon nonguaranteed private convertible bond for 6,000,000,000 and 10th unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 8,000,000,000 for an aggregate gross proceeds of KRW 14,000,000,000 on November 19, 2021. Sangsangin Savings Bank, Investment Arm will invest KRW 6,000,000,000 of the series 10 bonds and Sangsangin Plus Savings Bank, Investment Arm will invest KRW 2,000,000,000 of the series 10 bonds and Pivot Partners Co., Ltd. will invest KRW 1,000,000,000. The series 10 bonds will carry a surface interest rate of 1% and maturity interest of 2.5%.

The series 10 bonds will mature on November 23, 2024. The series 10 bonds care fully convertible at a fixed conversion price of KRW 2,507 into 3,191,065 common shares from November 22, 2021 to November 23, 2021. The transaction is expected to close on November 23, 2021.

The transaction was approved by the board of directors of the company.