HYSONIC Co., Ltd. announced a private placement of series 15 unregistered non-guaranteed private convertible bonds for aggregate gross proceeds of KRW 3,800,000,000 on March 28, 2023. The transaction included participation from new investors Hanjo Korea Co., Ltd. for KRW 1,000,000,000, Mars Mezzanine Top Selection Private Equity Investment Trust 2 for KRW 2,300,000,000 and KWE Holdings Co., Ltd. for KRW 500,000,000. The bonds carry no interest rate and maturity rate of interest of 2% and will mature on April 28, 2026.

The bonds are 100% convertible into 904,761 shares of the company at the conversion price of KRW 4,200 per share. The conversion period will start on April 28, 2024 and ends on March 28, 2026. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on April 28, 2023.