Raphas Co., Ltd. announced that it will issue series 5 Unregistered nonguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on April 25, 2023. The bonds do not carry interest rate, 3% maturity rate and will mature on April 27, 2026. The notes are 100% convertible into 802,246 shares at a price of KRW 24,930 from April 27, 2024 to March 27, 2026.

The transaction has been approved by board of directors of the company. The securities issued will be subject to hold period of one year. The transaction is expected to close on April 27, 2023.

The transaction will include participation from Kiwoom Securities Co., Ltd., NH Investment & Securities Co., Ltd, KB Securities Co., Ltd., Industrial Bank of Korea, NH Investment & Securities Co., Ltd., KB Securities Co., Ltd, Samsung Securities Co., Ltd., NH Investment & Securities Co., Ltd., KB Securities Co., Ltd., Mirae Asset Securities Co., Ltd, NH Investment & Securities Co., Ltd. (in the position of trustee of "Fund 23"), KB Securities Co., Ltd. (in the position of trustee of "Fund 24"), NH Investment & Securities Co., Ltd (in the position of trustee of "Fund 25"), NH Investment & Securities Co., Ltd (in the status of trustee of "Fund 26 ~ 27"), Mirae Asset Securities Co., Ltd (in the position of trustee of "Fund 28"), NH Investment & Securities Co., Ltd (in the position of trustee of "Fund 29"), NH Investment & Securities Co., Ltd. (in the position of trustee of "Fund 30"), Korea Investment & Securities Co., Ltd (in the position of trustee of "Fund 31") and KB Securities Co., Ltd. (in the position of trustee of "Fund 32"). The bonds are restricted to a hold period of one year.