CoAsia Optics Corp. announced a private placement of round 9th private equity convertible bonds with bearer type interest for gross proceeds of KRW 15,000,000,000 on May 10, 2022. The bond carries coupon rate of 0% and yield to maturity is 0%.

The bond will mature on May 12, 2027. The bonds will be fully convertible into 5,703,422 shares at a fixed conversion price of KRW 2,630 per share for 12.2% equity between May 12, 2023 and April 12, 2027. The transaction was approved by board of directors.

The bonds are subject to hold period of one year. The transaction is expected to close on May 12, 2022.The transaction include participation from Ace Metiston New Technology Business Fund No.2 for KRW 2,500,000,000, Ace Susung New Technology Fund 15 for KRW 1,000,000,000, Ace Wellix New Technology Fund No.1 for KRW 1,500,000,000, Billance-VLP New Fund No. 1 for KRW 4,000,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd for KRW 1,500,000,000, LD-Suseong Pre IPO Mezzanine New Technology Fund No.

1 for KRW 1,000,000,000, Kiwoom-Suseong No.1 New Technology Business Fund for KRW 1,000,000,000, returning investor NH Investment & Securities Co. for KRW 1,500,000,000, and Shinhan Financial Investment Co., Ltd. for KRW 1,000,000,000.