Redwoods Co.,Ltd announced a private placement to issue Zero Coupon Series 10 Bearer Interest Unsecured Private Placement Convertible Bonds due June 21, 2029 for the gross proceeds of KRW 600,000,000 on June 19, 2024. The transaction will include participation from retuning investor Pastoral Investment Limited. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on June 21, 2024.

The bonds are 100% convertible into 1,200,000 shares at a fixed conversion price of KRW 500 from June 21, 2025 to May 21, 2029. The bonds bear zero coupon rate, 4% maturity rate and matures on June 21, 2029.