GnBS Engineering Co.LTD. announced a private placement of series 1 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on April 4, 2023. The transaction will include participation from JSPINC Co., Ltd., FN REPUBLIC Co., Ltd, Benoholdings, Inc., T&B Tech Co., Ltd. and individual investor, Kim Ki-yong. The series 1 bonds will have a coupon rate of 1.0% and yield to maturity rate of 2.0% maturing on May 4, 2026.

The bonds will be fully convertible into 19,086 shares of the company at an issue conversion price of KRW 523,944 per share between the period starting from May 4, 2024 and ending on April 4, 2026. The transaction has been approved by board of directors of the company. The expected date of payment is May 4, 2023.

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