Advanced Process Systems Corporation announced a private placement to issue Zero Coupon Series 2 Bearer Interest Unsecured Private Placement Exchangeable Bonds due June 19, 2027 for the gross proceeds of KRW 7,838,610,000 on June 17, 2024. The transaction will include participation from new investors Ace - NLC New Technology Fund 2 for KRW 1,500,000,000, Ace - NLC New Technology Fund 3 for KRW 4,999,980,000 and Infinity Investment Advisory Co.,Ltd . (in the position of sole trader) for KRW 1,338,630,000.

The bonds bear zero coupon rate, 1% maturity rate and matures on June 21, 2027. The bonds are 100% convertible into 261,287 shares at a fixed conversion price of KRW 30,000 from July 19, 2024 to May 19, 2027. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on June 19, 2024.