Inhwa Precision Co., Ltd announced a private placement of series 1 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 14,000,000,000 on May 3, 2022. The transaction will include participation from Korea Development Bank, Investment Arm. The bonds will be issued at par and will not carry any coupon.

The bonds have yield to maturity of 3% and would mature on May 6, 2025. The bonds will be fully convertible into 834,973 shares of the company at a fixed conversion price of KRW 16,767 from May 6, 2023 to April 6, 2025. The subscription and the payment date is May 6, 2022.

The bonds are redeemable. All securities issued are restricted for one year. The transaction has been approved by the board of directors of the company.