G Enone Energy Co., Ltd. announced a private placement of 3rd series unregistered coupon non-guaranteed private placement convertible bond for gross proceeds of KRW 10,000,000,000 and 2nd series unregistered coupon non-guaranteed private placement convertible bond for the gross proceeds of KRW 10,000,000,000 for aggregate gross proceeds of KRW 20,000,000,000 on November 10, 2022. The transaction will include participation from Korea Fixed-Income Investment Management and returning investor, N2Tech Co.,Ltd. The bonds are issued at 3% coupon rate, 3% maturity rate and will mature on December 21, 2025. The 3rd series bonds will be 100% converted into 3,521,127 common shares representing 11.28% stake of the company at a fixed conversion price of KRW 2,840 per share. The conversion period is from December 21, 2023 to November 21, 2025. The transaction has been approved by the board of directors of the company. The subscription date is November 10, 2022 and the payment date is December 21, 2022. The securities issued are subjected to one year hold period.

On February 23, 2023, the company announced that 2nd and 3rd series bonds will be converted into 3,546,099 common shares at a fixed conversion price of KRW 2,820 per share.