ENVIONEER Co.,Ltd. (KOSDAQ:A317870) announced a private placement of series 3 non separable type without warranty privately held bonds for gross proceeds of KRW 5,000,000,000 and series 7 non guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 for aggregate gross proceeds of KRW 10,000,000,000 on March 10, 2021. The transaction will include participation from SK Securities Co., Ltd. (KOSE:A001510) for series 3 bonds for KRW 5,000,000,000 and Fine Value Asset Management Co., Ltd for series 7 bonds for KRW 5,000,000,000. The series 3 and series 7bonds do not bear an interest rate and will mature on April 7, 2026.

Both the bonds are 100% convertible into 512,767 common shares at a conversion price of KRW 9,751 respectively. The conversion period for both bonds is from April 7, 2022 to March 7, 2026. The transaction has been approved by board of directors of the company and is expected to close on April 7, 2021.

The securities issued will be subject to restriction period of one year from the date of issuance.