Kolen Co., Ltd announced a private placement of 7,112,375 common shares at the price of KRW 1,406 per share for gross proceeds of KRW 9,999,999,250 and 16 non-guaranteed private equity convertible bonds for the gross proceeds of KRW 8,000,000,000; for the aggregate gross proceeds of KRW 17,999,999,250 on May 20, 2021. The transaction will include participation from Jinin Fund No. 1 for common shares and Houston Fund for KRW 8,000,000,000.

The company will issue shares of par value of KRW 500 per share through third party allocation method. The shares will be locked up for a period of one year. The bonds will be zero coupon bonds.

The bonds will mature on July 02, 2024. The bonds are 100% convertible into 4,810,583 common shares at an conversion price of KRW 1,663 from July 02, 2022 to June 02, 2024. Post closing, the total number of shares issued will increase from 68,975,373 shares to 76,087,748 shares.

The transaction has been approved by board of directors of the company. The payment date for common shares is June 21, 2021 and for bonds is July 2, 2021.