COWINTECH Co. Ltd. announced a private placement of series 4 unsecured privately placed convertible bonds for gross proceeds of KRW 8,000,000,000 on February 21, 2023. The transaction will include participation from new investor, SONIX ELECTRONICS Co., Ltd. The bonds will mature on February 23, 2028.

The bonds will be 100% convertible into 320,731 common shares of the company, representing 3.28% of the total number of shares at a fixed conversion price of KRW 24,943 per share. The conversion period is from February 23, 2024 to January 23, 2028. The transaction has a subscription date of February 23, 2023 and payment date of February 23, 2023.

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