DRTECH Corporation announced a private placement of series 6 non-guaranteed private placement convertible bond for gross proceeds of 20,000,000,000 on June 26, 2023. The transaction will include participation from new investor, IBKC Global One Atman New Technology Fund. The zero coupon bonds have a yield to maturity rate of 2% and will mature on July 3, 2029.

The bonds are fully convertible into 5,591,277 common shares at an issue conversion price of KRW 3,577 per share between the period starting from July 3, 2024 and ending on June 3, 2028. The transaction has been approved by board of directors of the company. The expected date of payment is July 3, 2023.

The securities have a hold period of one year from the date of issuance.