Hucentech Co., Ltd. announced a private placement of series 5 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 50,000,000,000 on September 3, 2021. The transaction include participation from Meritz Securities Co., Ltd. for all securities issued. The bonds have yield to maturity of 1.5% with a zero-coupon rate.

The bonds will mature on September 7, 2024. The bonds will be 100% converted into 18,903,591 common shares at a fixed conversion price of KRW 2,645 per share for an equity stake of 23.54%. The conversion period is from September 8, 2022 to August 7, 2024.

The payment date of the transaction is September 7, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.

The subscription date is on September 6, 2021.