Captivision announces strategic improvements to balance sheet

Captivision announced strategic improvements to its balance sheet, resulting in a strengthening of its financial position. The Company entered into contribution agreements with certain creditors of its wholly owned subsidiary, Captivision Korea pursuant to which the Contributors agreed to contribute the respective outstanding balances remaining under various debt agreements with Captivision Korea to the Company in exchange for the issuance by the Company of its ordinary shares in a debt to equity conversion transaction. Pursuant to the Conversion, an aggregate of KRW 5,791,867,301 of Contributed Debt was contributed to the Company in exchange for the issuance of an aggregate of 1,414,895 shares at a conversion price per share equal to $3.00. Captivision Korea entered into a Private Bonds Subscription Agreement with certain investors, pursuant to which the Subscribers agreed to subscribe to and Captivision Korea agreed to issue an aggregate amount of KRW 3,100,000,000 of unregistered private placement bonds.