Kortek Corporation announced a private placement of 1st bearer type unguaranteed private placement convertible bonds for gross proceeds of KRW 25,000,000,000 and round 2 type non-guaranteed private exchange bond for gross proceeds of KRW 13,000,000,000 on October 19, 2022. The transaction will include participation from Daishin-Newgen New Technology Fund No. 2. The bonds have a maturity date of October 28, 2027 and have zero coupon rate.

The bonds are convertible at a price of KRW 10,825 into 1,200,923 common shares. The conversion period will start from November 28, 2022 and end on September 28, 2027. The payment date of the transaction is October 28, 2022.

The transaction has been approved by the board of directors of the company.