C&C International Co., Ltd. announced a private placement to issue Series 2 Bearer-type non- guaranteed private convertible bonds for the gross proceeds of KRW 30,000,000,000 on November 20, 2023. The transaction will include participation from new investor Ascent-IBKC New Technology Business Fund No. 1 for KRW 30,000,000,000.

The bonds bear zero coupon rate and bears 3% maturity rate. The bonds are 100% convertible into 560,740 shares at a fixed conversion price of KRW 53,500 from November 22, 2024 to October 22, 2028. The transaction has been approved by the shareholders of the company and is expected to close on November 22, 2023.

The bonds are restricted to a hold period of 1 year.