EnGIS Technologies, Inc. announced a private placement of Round 10 Bearer-type interest-bearing collateralized private placement convertible bonds for the gross proceeds of KRW 12,000,000,000 on September 6, 2022. The transaction will include participation from DASAN Networks, Inc. The transaction has been approved by the Board of Directors of the company. The bonds are fully convertible into 5,454,545 common shares at a price of KRW 2,200 per share.

The bonds have a conversion period from September 7, 2023 to August 7, 2025. The bonds will carry a surface interest rate of 1% & maturity rate of 7%. The transaction is expected to close on September 7, 2022.