Captivision Converted ~$4.2M Of Outstanding Debt Into Equity At A $3.00 Price Per Share; Raised ~$2.2M Via A Private Placement Bond Issuance By Captivision Korea

• Converted Approximately $4.2 Million of Outstanding Debt into Equity at a $3.00 Price per Share
• Raised Approximately $2.2 Million via a Private Placement Bond Issuance by Captivision Korea

MIAMI and SEOUL, July 23, 2024 (GLOBE NEWSWIRE) -- Captivision Inc. ("Captivision" or the "Company") (NASDAQ:CAPT), a pioneer and manufacturer of architectural media glass, today announced strategic improvements to its balance sheet, resulting in a strengthening of its financial position.

Debt-to-Equity Conversion

The Company entered into contribution agreements (the "Contribution Agreements") with certain creditors (the "Contributors") of its wholly owned subsidiary, Captivision Korea Inc. ("Captivision Korea"), pursuant to which the Contributors agreed to contribute the respective outstanding balances remaining under various debt agreements with Captivision Korea (the "Contributed Debt") to the Company in exchange for the issuance by the Company of its ordinary shares in a debt to equity conversion transaction (the "Conversion").

Pursuant to the Conversion, an aggregate of KRW 5,791,867,301 (approximately $4.2 million as of the exchange rate calculation date) 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.