Cronex Co., Ltd. announced a private placement of round 4 type unregistered coupon unguaranteed private convertible bond for proceeds of KRW 1,000,000,000 on March 21, 2023. The bonds carry a coupon rate of 4% and a maturity rate of 7%. The transaction will include participation from Sun Hwa Yoo.

The bonds will mature on March 30, 2026. The bonds will convert into 524,658 shares at a conversion price of KRW 1,906. The bonds will convert into shares in the period starting from April 1, 2024 and ending on March 25, 2026.

The subscription date of the transaction is March 21, 2023 and payment date of March 30, 2023. The transaction has been approved by the board of directors of the company. The bonds are subject to a hold period of 1 year.