Daeyu Co., Ltd. announced a private placement of series 2 unregistered coupon nonguaranteed private convertible bond with bearer type interest for gross proceeds of KRW 14,000,000,000 on June 16, 2022. The transaction involved participation from new investors Rio Consortium for KRW 7,000,000,000 and Benefis Consortium for KRW 7,000,000,000. The coupon rate and interest rate to maturity is 1.5% each.

The bond maturity date is July 18, 2025. The bonds are fully convertible into 2,597,402 shares at a conversion price of KRW 5,390 per share for 10.51% stake in the company. Conversion period of the bonds starts on July 18, 2023 and ends on June 18, 2025.

The bonds issued have a hold period of one year, post the closing. The payment date is July 18, 2022. The transaction has been approved by the board of directors of the company.