CORESTEMCHEMON Inc. announced a private placement to issue Series 4 Bearer-Bearing Non-Guaranteed Private Exchangeable Bonds for the gross proceeds of KRW 21,000,000,000 on March 22, 2024. The transaction will include participation from new investors NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 1 ) for KRW 900,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 2 ) for KRW 1,450,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 3 ) for KRW 200,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 4 ) for KRW 150,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 5 ) for KRW 600,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 6 ) for KRW 500,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 7 ) for KRW 500,000,000, NH Investment & Securities Co., Ltd. ( in the position of trustee of Fund 8 ) for KRW 500,000,000, Samsung Securities Co., Ltd. ( in the position of trustee of Fund 9 ) for KRW 3,000,000,000, Samsung Securities Co., Ltd. ( in the position of trustee of Fund 10 ) for KRW 8,200,000,000 and Solon-Seoul Asset New Technology Association No. 1  (Acquirer 11) for KRW 5,000,000,000.

The transaction has been approved by the shareholders of the company and is expected to close on March 26, 2024. The bonds bear zero coupon rate and 1% maturity rate and matures on March 24, 2028. The bonds are 100% convertible into 1,875,000 shares at a fixed conversion price of KRW 11,200 from April 26, 2024 to February 24, 2028.

The securities are restricted to a hold period.