MAXST Co., Ltd. announced a private placement of series 1 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 21,000,000,000 on November 8, 2022. The transaction will include participation from Hanyang Securities Co., Ltd., Investment Arm, HisStory Investment Management, Hana Collabo Pre-IPO Fund and Hana Tech Value-up Fund, both funds managed by Hana Ventures Inc. The zero coupon bonds will mature on November 10, 2027 and are fully convertible into 1,901,484 common shares at a fixed conversion price of KRW 11,044 between the period beginning from November 10, 2023 and ending on October 10, 2027. The transaction has been approved by board of directors of the company.

The expected date of payment and subscription date is November 10, 2022.