NSN Co., Ltd. announced a private placement of series 29 nonguaranteed private convertible bonds with Bearer Type gross proceeds of KRW 4,000,000,000 on March 23, 2022. The series 29 bonds carry coupon rate of 3% and have yield to maturity of 5%. The bonds will mature on May 23, 2025.

The series 29 bonds will be 100% converted into 2,373,887 common shares representing 3.34% of the company at a fixed conversion price of KRW 1,685 per share. The conversion period is from May 23, 2023 to April 23, 2025. The transaction will have subscription date March 23, 2022 and payment date on May 23, 2022.

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