Aroot Co., Ltd. announced a private placement of series 17 unregistered coupon private convertible bond for gross proceeds of KRW 10,000,000,000 on November 29, 2021. The bonds bear a fixed coupon rate of 2% per annum and maturity rate of 2% per annum. The bonds are convertible into 16,339,869 shares of the company at a fixed conversion price of KRW 612 per share.

The conversion period will start from January 14, 2023 to December 14, 2024. The bond matures on January 14, 2025. The transaction has been approved by the board of directors of the company.

The securities issued are subject to restriction period of one year from the date of issuance. The transaction is expected to close on January 14, 2022. The transaction will include participation from KAI-JJ Mezzanine Association 1.