Longtu Korea Inc. announced a private placement of Series 6 Bearer-Bearing Interest Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 10,000,000,000 and 6,341,154 common shares at a price of KRW 1,577 per share for the gross proceeds of KRW 9,999,999,858; for total gross proceeds of KRW 19,999,999,858 on March 29, 2024. The transaction will include participation from new investor SH Fund No. 1. The transaction has been approved by the shareholders, restricted to a hold period and is expected to close on July 31, 2024. The bonds bear 0% coupon rate, 2% maturity rate and matures on July 31, 2027. The bonds are 100% convertible into 5,285,029 shares at a fixed conversion price of KRW 1,857 from July 31, 2025 to June 30, 2027.

For common shares - The transaction is expected to close on April 29, 2024 and the shares are restricted to a hold period of 1 year. The transaction will include participation from new investor SH Fund No. 1.