H&B Design Co., Ltd. announced a private placement to issue Series 11 Bearer-Bearing Interest-bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 10,000,000,000 on March 22, 2024. The transaction will include participation from new investors Chosungai Co., Ltd. for KRW 5,000,000,000 and Plus Fund for KRW 5,000,000,000. The transaction has been approved by the shareholders of the company and is expected to close on April 5, 2024.

The bonds bear zero coupon rate and 3% maturity rate and matures on April 5, 2027. The bonds are 100% convertible into 8,058,017 shares at a fixed conversion price o KRW 1,241 from April 5, 2025 to March 5, 2027. The securities are restricted to a hold period.