BYON Co., Ltd. announced a private placement to issue Series 41 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000 on October 8, 2023. The transaction will include participation from new investor Nemo Partners Route Investment Co., Ltd. for KRW 20,000,000,000. The bonds bear 6% coupon rate and 6% maturity rate and matures on October 18, 2026.

The bonds are 100% convertible into 10,330,578 common shares at a fixed conversion price of KRW 1,936 from August 19, 2024 to June18, 2026. The transaction has been approved by the shareholders of the company and is expected to close on October 10, 2023. The securities are restricted to a hold period pf 1 year.