Redwoods Co.,Ltd announced a private placement to issue Series 9 Bearer-Bearing Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 1,000,000,000 on March 25, 2024. The transaction will include participation from new investor AAAs DISCRETIONARY INVESTMENT Inc for KRW 1,000,000,000. The transaction has been approved by the shareholders of the company and is expected to close on April 8, 2024.

The bonds are 100% convertible into 2,000,000 shares at a fixed conversion price of KRW 500 from April 8, 2025 to March 8, 2029. The bonds bear zero coupon rate and 4% maturity rate and matures on April 8, 2029. The securities are restricted to a hold period.