FINETEK Co., Ltd. announced a private placement of round 16 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on September 2, 2020. The bonds are zero coupon bonds with an yield to maturity of 3% and have a maturity date of September 4, 2023. The bonds are 100% convertible into 3,048,780 common shares representing 7.10% of the total number of shares of the company at a conversion price of KRW 1,640 per share and the conversion period of the bonds will start on September 4, 2021 and ends on August 4, 2023.

The transaction will include participation from SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 2,000,000,000, Samsung Securities Co. Ltd., Investment Arm for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 500,000,000 and individual investor Jinsoo Lee for KRW 500,000,000. The transaction has been approved by the board of directors of the company.

The subscription date and payment of the transaction is on September 4, 2020.