LAON PEOPLE Inc announced a private placement to issue Series 2 Bearer Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 26,000,000,000 on January 17, 2024. The transaction will include participation from new investors KB Securities Co., Ltd. (In the fiduciary position of Fund 1) for KRW 2,000,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund 2) for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 3) for KRW 800,000,000, Korea Investment & Securities Co., Ltd. (In the position of trustee of Fund 4) for KRW 1,200,000,000, NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 5) for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 6) for KRW 200,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 7) for KRW 600,000,000, NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 8) for KRW 800,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 9) for KRW 400,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 10) for KRW 2,000,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 11) for KRW 700,000,000, NH Investment & Securities Co., Ltd. (In the fiduciary position of Fund 12) for KRW 800,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 13) for KRW 700,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund14) for KRW 1,800,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund 15) 300,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund 16) for KRW 200,000,000, KB Securities Co., Ltd. (In the position of trustee of Fund 17) for KRW 500,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund 18) for KRW 500,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund 19) for KRW 1,500,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund20) for KRW 800,000,000, KB Securities Co., Ltd. (In the fiduciary position of Fund21) for KRW 700,000,000, Samsung Securities Co., Ltd. (In the position of trustee of Fund22) for KRW 2,000,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund23) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. (In the capacity of a trustee of Fund24) for KRW 500,000,000, CS Advisors Co., Ltd. for KRW 1,000,000,000, Shinhan Investment & Securities Co., Ltd. for KRW 1,000,000,000, Infinity Investment Advisory Co.,Ltd. for KRW 1,000,000,000 and  NH-Suseong No. 1 Mezzanine New Technology Investment Fund for KRW 1,000,000,000.

The bonds bear 0% coupon rate and 1% maturity rate and matures on January 19, 2029. The bonds are 100% convertible into 3,509,719 common shares at a fixed conversion price of KRW 7,408 from January 19, 2025 to December 19, 2028. The transaction has been approved by the shareholders of the company and is expected to close on January 19, 2024.

The securities are restricted to a hold period of 1 year.