Seojin System Co., Ltd announced a private placement of series 9 Non-guaranteed Private Equity Convertible Bonds with Bearer Type Interest Part for gross proceeds of KRW 18,000,000,000, series 10 bearer non-guaranteed convertible bonds with interest for the proceeds of KRW 110,000,000,000 and series 11 Registered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 60,000,000,000 for aggregate gross proceeds of KRW 188,000,000,000 on December 16, 2021. The transaction will include participation from new investors Sunflower 2022 Holdings Co., Ltd. for series 10 bonds, SKS Joint Investment 2021 Private Equity Joint Venture Company for series 11 bonds and the series 9 bonds will include participation from new investors Multi Asset Business Growth Ladder Specialized Investment PEF, a fund managed by Multi Asset Global Investments Co., Ltd. for KRW 8,000,000,000 and Multi-asset On-corporate auto parts company support Specialized Investment PEF for KRW 10,000,000,000. The series 9 bonds will carry coupon rate and yield to maturity of 2.5% and the series 10 and 11 bonds will carry coupon rate of 4.25%.

The maturity date of the series 9 bonds is December 23, 2026 and of the series 10 and 11 bonds is February 4, 2052. The bonds are fully convertible at a conversion price of KRW 47,000 per share and the series 9 bonds are fully convertible into 382,978 common shares, the series 10 bonds are fully convertible into 2,340,425 common shares and the series 11 bonds are fully convertible into 1,276,595 common shares of the company. The conversion period of the series 9 bonds will be from December 23, 2022 to November 23, 2026 and the series 10 and 11 bonds will be from February 4, 2023 to January 4, 2052.

The subscription date of the bonds is December 20, 2021 and the payment date of the series 9 bonds is December 23, 2021 and the series 10 and 11 bonds is February 4, 2022. The transaction has been approved by the board of directors of the company. The securities issued in the transaction has a lock in period of one year from issuance and are issued at par value.