SEONGAN CO., Ltd. announced a private placement of 3rd series Bearer unsecured privately placed convertible bonds for gross proceeds of KRW 1,000,000,000 on January 2, 2023. The transaction will include participation from Artemis 2nd Association. The bond carry coupon rate of 3% and have yield to maturity of 3%.

The bonds will mature on January 27, 2026. The bonds will be 100% convertible into 1,144,164 common shares of the company, representing 2.01% of the total number of shares at a fixed conversion price of KRW 874 per share. The conversion period is from January 27, 2024 to January 27, 2026.

The transaction has a subscription date of January 2, 2023 and payment date of January 27, 2023. The transaction has been approved by the board of directors of the company.