Telefield Inc. announced a private placement of series 3 bearer-type non-guaranteed private placement non-separable convertible bonds with warrants for the gross proceeds of KRW 8,000,000,000 on December 27, 2023. The transaction will include participation from new investor Tyler Fund 1. The bonds will bear a coupon interest rate 0% and maturity rate of 1% and will mature on March 27, 2027. The bonds are fully convertible into 736,038 common shares of the company at conversion price of KRW 10,869 per share from March 27, 2025 to February 27, 2027.

The transaction is expected to close on March 27, 2024. The transaction has been approved by the board of directors of the company. The bonds are restricted to a hold period of 1 year from the date of bond issuance.