Nokwon Commercials & Industries, Inc. announced a private placement of series 22nd Bearer Type Interest Part Unguaranteed Private Placement Convertible Bond for gross proceeds of KRW 10,000,000,000 on May 9, 2022. The bond bears a coupon rate of 3%. The bonds are 100% convertible at a conversion price of KRW 2,000 into 5,000,000 shares from May 10, 2023 to April 10, 2052.

The payment date is May 10, 2022. The bonds will mature on May 10, 2052. The transaction will include participation from DSFL&I Co., Ltd. for KRW 10,000,000,000 The transaction has been approved by the board of directors.