Dpeco Co.,Ltd. announced a private placement of 11th series Won-denominated privately placed convertible bonds for gross proceeds of KRW 1,100,000,000 on March 10, 2023. The transaction will include participation from returning investor, Seoryoung Enterprise Co., Ltd. The bond carry coupon rate of 1% and have yield to maturity of 4%. The bonds will mature on March 13, 2027.

The bonds will be 100% convertible into 201,317 common shares of the company, representing 2.23% of the total number of shares at a fixed conversion price of KRW 5,464 per share. The conversion period is from March 13, 2024 to February 13, 2027. The transaction has a subscription date of March 10, 2023 and payment date of March 13, 2023.

The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of one year.