JOONGANG DNM Co.,Ltd announced a private placement of series 14 non-guaranteed private placement convertible bond for gross proceeds of KRW 22,000,000,000 on June 20, 2023. The transaction will include participation from new investor, Enchem Co., Ltd. The bonds will be issued at par and do not carry any coupon. The bonds have yield to maturity of 0% and would mature on July 7, 2026.

The bonds will be fully convertible into 4,712,939 shares of the company at a fixed conversion price of KRW 4,668 from July 7, 2024 and June 7, 2026. The bonds are redeemable. The subscription date is June 20, 2023.

The payment date is July 7, 2023. The transaction has been approved by its board of directors.