SKY E&M Co., Ltd. announced a private placement of series 21 Unregistered non-guaranteed private placement convertible bonds for gross proceeds of KRW 15,000,000,000 on November 3, 2021. The bonds are zero coupon with no yield to maturity. The bonds will mature on March 3, 2025.

The bonds are 100% convertible into 3,460,207 common shares of the company at a conversion price of KRW 4,335 from March 3, 2023 to February 03, 2025. The transaction will include participation from new investor Bronn Fund. The transaction has been approved by the board of directors of the company.

The payment date and subscription date of the transaction is March 3, 2022 and November 5, 2021 respectively. The securities issued will be subject to hold period of one year from issuance and are being issued at par value.