Pandora TV Co., Ltd. announced a private placement of 2nd registered private unsecured convertible bonds for gross proceeds of KRW 1,500,000,000 on December 1, 2014. The bonds will mature on December 3, 2019 and will bear no interest. The bonds will have a yield to maturity of 6% per annum and will be convertible into registered common shares of the company at a conversion rate of 100% and at a fixed conversion price of KRW 2,500 per share. The bonds will be convertible through December 3, 2015 to December 2, 2019. The transaction will involve participation from Mirae Creation LB Leading Company Investment Fund NO. 20. The subscription date for the transaction is December 1, 2014. The payment date of the transaction will be December 3, 2014. On the same date, the board of directors of the company approved the transaction.

On December 3, 2014, Pandora TV Co., Ltd. closed the transaction.