KH Electron Co.,Ltd announced a private placement of series 10 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 on February 17, 2022. The bonds bear an surface interest rate of 2%, maturity rate of 5% and will mature on February 18, 2025. The transaction will included participation from returning investor, Meritz Securities Co., Ltd., Investment Arm.

The bonds are 100% convertible into 23,291,925 common shares representing 10.70% number of shares at a price of KRW 644. The conversion period will start from February 18, 2023 to February 11, 2025. The transaction has been approved by the board of directors of the company.

The securities issued will be subject to hold period of one year from issuance. The transaction subscription date and payment date will be on February 18, 2022.