CQV Co., Ltd. announced a private placement to issue 2% Series 1 Bearer Interest Unsecured Private Placement Convertible Bonds due June 28, 2027 for the gross proceeds of KRW 15,000,000,000 on June 19, 2024. The transaction will include participation from new investors Mirae Asset Securities Co., Ltd. (in the position of fiduciary of Fund 1) for KRW 2,500,000,000, Mirae Asset Securities Co., Ltd. (in the fiduciary position of Fund 2) for KRW 1,100,000,000, Mirae Asset Securities Co., Ltd. (From the fiduciary position of Fund 3) for KRW 1,400,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 4) for KRW 300,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 4) for KRW 200,000,000, Inter Paper & Pulp Co. Ltd. for KRW 1,500,000,000 and Sangsangin Investment & Securities Co.,Ltd for KRW 8,000,000,000.

The transaction has been approved by shareholders, restricted to a hold period and is expected to close on June 28, 2024. The bonds are 100% convertible into 2,604,166 shares at a fixed conversion price of KRW 5,760 from June 28, 2025 to May 28, 2026. The bonds bear zero coupon rate, 6% maturity rate and matures on June 28, 2027.