Raonsecure Co., Ltd. announced a private placement of series 9 bearer type non-guaranteed private placement convertible bonds for a gross proceeds of KRW 20,000,000,000 on November 30, 2021. The transaction will include participation from Lapis-Hanyang New Technology Fund No. 1. The bonds carry 0% coupon rate.

The bonds will mature on December 20, 2024. The bonds will be 100% converted into 4,544,421 common shares at a fixed conversion price of KRW 4,401 per share for an equity stake of 10.52%. The conversion period is from December 20, 2022 to November 20, 2024.

The payment date of the transaction is December 20, 2021. 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.