Sangsangin Industry Co., Ltd. announced a private placement of series 11 non-guaranteed private equity convertible bonds with bearer type interest part for KRW 5,000,000,000 and series 12 Non-guaranteed Private Equity Convertible Bonds with Bearer Type Interest Part for gross proceeds of KRW 6,000,000,000 on April 1, 2022. The series 11 bonds will have 2% interest rate and 3% surface interest, having maturity on April 4, 2025, series 12 bonds will have no interest rate and will mature on April 5, 2025. The series 12 bonds are 100% convertible into 5,988,023 shares at an conversion price of KRW 1,002.

The series 11 bonds are 100% convertible into 4,990,019 shares at an conversion price of KRW 1,002. The series 11 and 12 bonds will start conversion from April 05, 2023 and will end on March 5, 2025. The transaction is expected to close on April 5, 2022.

The transaction was approved by the board of directors of the company.