Kiwoom Securities Co., Ltd. (KOSE:A039490) announced a private placement of 2,659,263 redeemable convertible preferred stocks of par value of KRW 5,000 at a price of KRW 150,417 for gross proceeds of KRW 399,998,362,671 on June 17, 2021. The company is raising funding through third party allocation increase method. The transaction will include participation from returning investors Daou Technology Inc. (KOSE:A023590) for 332,409 shares, Hanwha Investment & Securities Co., Ltd. (KOSE:A003530) for 398,891 shares, KB Securities Co., Ltd. for 332,409 shares, Shinyoung Securities Co., Ltd. (KOSE:A001720) for 265,927 shares, Meritz Securities Co., Ltd. (KOSE:A008560) for 199,445 shares, EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020) for 99,722 shares, Woori Financial Capital Co., Ltd. (KOSE:A033660) for 33,240 shares, and Mirae Asset Securities Co., Ltd. (KOSE:A006800) for 66,481 shares, Smilegate Entertainment Inc. for 66,481 shares, Golden C First Car Co.

, Ltd. for 305,816 shares, K-Clavis RCPS Private Equity Investment Trust No. 4 for 199,445 shares, Eco Sage Co., Ltd. for 99,722 shares, BNK Investment & Securities Co., Ltd. for 19,944 shares, Heungkuk Life Insurance Co., Ltd. for 66,481 shares, Shinhan Bank, Investment Arm for 66,481 shares, Midas Asset Management Co. Ltd. for 33,240 shares, and Meritz Capital Co., Ltd., Investment Arm for 33,240 shares.

The preferred stock will be convertible into 2,659,263 shares at a variable conversion price. The conversion period will start from June 30, 2022 and end on June 30, 2031. The payment date is June 29, 2021.

All securities issued will be subject to a hold period of 1 year.