EWK Inc. (KOSDAQ:A258610) announced a private placement of round 4 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on September 18, 2020. The transaction will include participation from Technon Partners Co., Ltd. for KRW 10,000,000,000. The bonds are issued at par and will mature on October 30, 2023.

The bonds carries a fixed coupon rate of 1% and yield to maturity of 3%. The bonds are fully convertible into 843,881 common shares at a fixed conversion price of KRW 11,850 per share from October 31, 2021 to September 30, 2023. The subscription date and payment date is October 30, 2020.

The transaction has been approved by the board of directors of the company.