Codenature Inc. announced private placement of series 20 Unsecured privately placed convertible bonds with bearer interest for proceeds of KRW 100,000,000,000 on June 30, 2023. The transaction will include participation from Rachna Signature. The bonds shall bear zero coupon interest rate and will mature on September 27, 2026.

The bonds are 100% convertible into 48,053,820 shares at an conversion price of KRW 2,081 per share. The bonds will start conversion from September 27, 2024 and will end on August 27, 2027. The transaction is expected to close on September 27, 2023.

The transaction was approved by the board of directors of the company.