ASTORY Co.,Ltd (KOSDAQ:A241840) announced a private placement of first series non-guaranteed private equity convertible bonds for gross proceeds of KRW 33,000,000,000 on April 7, 2021. The transaction will include participation from Medici 2018-2 Startup Fund, Medici 2020-2 Scale-up Fund each for KRW 3,500,000,000, JC Asset KOSDAQ Venture Specialized Investment Type Private Equity Investment Trust No. 1, JC Asset KOSDAQ Venture Specialized Investment Type Private Equity Investment Trust No.

2, JC Asset KOSDAQ Venture Specialized Investment Private Equity Investment Trust No. 10 of Korea Securities Finance Corporation, Investment Arm for KRW 6,000,000,000, Optus Optimal KOSDAQ Venture Private Equity Investment Trust [Combined Assets] of Korea Securities Finance for KRW 4,000,000,000, HisStory Investment Management for KRW 4,000,000,000, Kiwoom Securities Co., Ltd. (KOSE:A039490) and Shinhan Capital, Investment Arm for KRW 3,000,000,000 each , Value system RAPID professional investment private equity trust of Shinhan Financial Investment Co., Ltd., Investment Arm 300,000,000, Value System STORM Specialized Investment Type Private Equity Trust of KB Securities Co., Ltd., Investment Arm for KRW 800,000,000, Value System KOSDAQ Venture FAST Professional Investment Private Equity Trust of NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 200,000,000, Value System Typhoon Professional Investment Private Equity Trust of Industrial Bank of Korea (KOSE:A024110) for KRW 200,000,000, Moorim Capital Co., Ltd., Investment Arm for KRW 1,500,000,000, SK Securities Co., Ltd. (KOSE:A001510), Hanyang Securities Co. Ltd. (KOSE:A001750), IBK Capital Corporation for KRW 1,000,000,000 each.

The bonds do not carry any coupon. The bonds will mature on April 9, 2026. The bonds can be 100% converted into 760,859 common shares for a stake of 7.39% at a fixed conversion price of KRW 43,372 per share.

The conversion period is from April 9, 2022 to March 9, 2026. The transaction has been approved by the board of directors of the company. The payment date of the transaction is April 9, 2021.

The bonds issued are subject to restriction period of one year from the date of issuance.