ICD Co., Ltd announced a private placement of fourth unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 18,000,000,000 on November 25, 2021. The transaction will include participation from existing investor Eugene Private Equity. The bonds will mature on November 29, 2026.

The bonds do not carry any annual coupon and yield to maturity. The bonds can be fully converted into 1,378,993 common shares of the company at a fixed conversion price of KRW 13,053 per share for 7.63% equity. The conversion period will start on November 29, 2022 and will end on October 29, 2026.

The transaction is expected to close on November 29, 2021. The transaction has been approved by the board of directors of the company. The bonds are subject to hold period of one year.