INNOVEX Company Limited announced a private placement of series 3 Non-Guaranteed Private Placement Convertible Debentures for proceeds of KRW 1,000,000,000 on June 26, 2023. The transaction will include participation from SILLA ASSET MANAGEMENT CO., LTD. The bonds carry zero coupon rate and will mature on June 28, 2026. The bonds are 100% convertible into 290,191 shares at an conversion price of KRW 3,446 per share.

The bonds will start conversion from June 28, 2024 and will end on May 28, 2026. The transaction is expected to close on June 28, 2023. The transaction was approved by the board of directors of the company.