NDFOS Co., Ltd. announced a private placement of 4th series non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and 374,157 shares at an issue price of KRW 8,018 per share for gross proceeds of KRW 2,999,990,826, for aggregate gross proceeds of KRW 12,999,990,826 on April 1, 2022. The transaction will include participation from new investor Benefis Consortium for bonds and for shares from returning investor Dae Yu Co., Ltd. and Jokwang ILI Co., Ltd. The bonds carry a fixed coupon of 1%. The bonds have yield to maturity of 2% and would mature on April 5, 2025.

The bonds are fully convertible into 1,112,470 common shares of the company at a fixed conversion price of KRW 8,989 between the periods of April 5, 2023 to March 5, 2025. The payment date is April 5, 2022 for bonds and April 11, 2022 for shares. The shares have a hold period of one year.

The transaction has been approved by the board of directors of the company.