Bitnine Co, Ltd. announced a private placement to issue series 2 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 28,000,000,000 on July 6, 2022. The bonds will bear zero coupon rate and 3.5% maturity rate. The bonds will mature on July 8, 2027.

The bonds will be 100% convertible into 2,479,631 shares at a conversion value of KRW 11,292 representing 19.32%. The conversion period will start from July 8, 2023 to July 01, 2027. The payment date is July 8, 2022.

The transaction has been approved by the board of directors. The bonds will have hold period of 1 year. The transaction will include participation from Suseong KOSDAQ Venture T2 General Private Equity Trust, GB A Saber-G General Private Equity Trust, GB A Saber-V General Private Equity Trust, fund managed by Mirae Asset Securities Co.

Ltd. for KRW 1,900,000,000, Suseong KOSDAQ Venture T3 General Private Equity Trust, Suseong KOSDAQ Venture T4 General Private Equity Trust, GB A The banks 3 General Private Equity Trust, GB A Mezz-S General Private Equity Trust, funds managed by KB Securities Co., Ltd., Investment Arm for KRW 6,500,000,000, Suseong The banks 3 General Private Equity Trust, a fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, GB A Mezz-A General Private Equity Trust, GB Fortress-V General Private Equity Trust, NH Absolute Return General Private Equity Trust No. 1, NH Absolute KOSDAQ Venture Mezzanine Professional Investment Private Equity Trust No. 1, NH Absolute KOSDAQ Venture Mezzanine Alpha General Private Equity Trust No.

1, NH Absolute Mezzanine General Private Equity Trust No. 3, Time Folio It's Time-MG 2nd General Private Equity Trust, Time Folio It's Time-Mezzanine I General Private Equity Trust, Time Folio KOSDAQ Venture The Special Alternative Investment No. 3 General Private Equity Trust, funds managed by Samsung Securities Co., Ltd. for KRW 10,600,000,000, JB Mezzanine New Technology Business Fund No.

1 for KRW 5,000,000,000, Friend New Technology Business Fund No.52 for KRW 3,000,000,000.