Hojeon Limited announced a private placement of Round 12 Non-guaranteed Private Equity Convertible Bonds with Bearer Type Interest Part for gross proceeds of KRW 15,000,000,000 on July 27, 2021. The transaction will include participation from BNK Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, New Growth One New Technology Fund II, a fund managed by Axis Investment Co., Ltd. for KRW 2,000,000,000, Core Trend Investment Ltd. for KRW 3,000,000,000, HisStory Investment Management for KRW 2,000,000,000, IBK Capital Corporation for KRW 2,000,000,000, KGT Asset Management Co., Ltd. for KRW 1,000,000,000 and NH Absolute Return Professional Investment Private Equity Trust No. 1 and NH Absolute Mezzanine Specialized Investment Private Equity Trust No. 2, funds managed by NH Hedge Asset Management Co., Ltd. for KRW 1,000,000,000 each. The bonds are zero coupon bonds with no yield to maturity, will mature on July 29, 2026 and are issued at par value. The bonds are fully convertible into 1,061,871 common shares at a conversion price of KRW 14,126 per share from July 29, 2022 to June 29, 2026. The transaction has been approved by the board of directors of the company. The payment date and subscription date is on July 29, 2021. The bonds are subject to a hold period of one year.