Mr. Blue Corporation announced a private placement to issue Series 4 Bearer Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 10,000,000,000 on May 9, 2024. The transaction will include participation from new investors KB Securities Co., Ltd. (in the fiduciary position of Fund 1) for KRW 700,000,000, KB Securities Co., Ltd. (in the fiduciary position of Fund 2) for KRW 300,000,000, KB Securities Co., Ltd. for KRW 2,000,000,000, Daol Investment & Securities Co., Ltd. for KRW 1,000,000,000, JB Woori Capital Co., Ltd for KRW 2,000,000,000, Hana Bank Co., Ltd. (In the position of trustee of Fund 4) for KRW 2,000,000,000,Samsung Securities Co., Ltd. (in the fiduciary position of Fund 3) for KRW 1,000,000,000 and PIO Investment for KRW 1,000,000,000. The bonds are 100% convertible into 3,694,126 shares at a fixed conversion price of KRW 2,707 from May 13, 2025 to April 13, 2029.

The bonds bear zero coupon rate and zero maturity rate and matures on May 13, 2029. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on May 13, 2024.