EnGIS Technologies, Inc. announced a private placement of 11th series private convertible bonds for gross proceeds of KRW 4,560,000,000 on May 4, 2023. The transaction will include participation from individual investors, Junghyun Lee, Changmin Lee, Seongyeol Bae, Seonyeong Wang, Geumdu Hwang and Daejung Hwang. The bond carry coupon rate of 1% and have yield to maturity of 7%.

The bonds will mature on May 04, 2026. The bonds will be 100% convertible into 2,072,725 common shares of the company, representing 18.11% of the total number of shares at a fixed conversion price of KRW 2,200 per share. The conversion period is from May 04, 2024, to May 04, 2026.

The transaction has a subscription date of May 04, 2023. The transaction has been approved by the board of directors of the company.