Ascendio Co., Ltd. announced a private placement of round 43rd domestic bearer type interest part no guarantee private placement convertible bond for gross proceeds of KRW 5,000,000,000 and 44th unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 for aggregate proceeds of KRW 10,000,000,000 on November 12, 2021. The transaction has been approved by the board of directors of the company. The transaction is expected to close on November 16, 2021.

The bond carries a zero-coupon rate and maturity rate of 3% for 44th round bonds and zero-coupon rate and maturity rate of 1% for 43rd round bonds. Both bonds will mature on November 16, 2024. Both bonds will be convertible into 80,509,196 shares at a conversion value of KRW 2,725 in conversion period that starts from November 16, 2022 and ends on October 16, 2024.

The bond is subject to a hold period of one year. The transaction will include participation from Eugene Private Equity for round 44 bonds and Hong, Jin-young for round 43rd bonds.