Exergy21 Co., Ltd. announced a private placement of series 25 bearer interest holder unsecured private placement non-segregated rights subordinate debentures for a gross proceeds of KRW 12,500,000,000 and 23,364,485 common shares at an issue price of KRW 535 per share for the gross proceeds of KRW 12,499,999,475; aggregate gross proceeds of KRW 24,999,999,475 August 18, 2023. The transaction will include participation from new investor Mariposa. The bonds have yield to maturity of 3%. The bonds will mature on December 31, 2027. The bonds will be 100% converted into 58,398,013 common shares at a fixed conversion price of KRW 656 per share for an equity stake of 32.63%. The conversion period is from December 31, 2025 to November 30, 2027. The payment date of the transaction is December 31, 2024. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.

Common Shares - The transaction will include participation from new investor Cabalo Blanco for 23,364,485 common shares. The transaction has been approved by the shareholders of the company and is expected to close on December 20, 2023.