GW Vitek CO.,LTD. announced a private placement of series 18 non guaranteed Private convertible bonds with bearer type interest part for gross proceeds of KRW 5,000,000,000 on April 26, 2022. The transaction will include participation from The Secret Fund No. 1. The bond maturity date is May 30, 2025.

The coupon interest rate is 0% and maturity interest is 5%. The bonds are fully convertible into 2,570,694 common shares at a fixed conversion price of KRW 1,945 per share from May 31, 2023 to April 30, 2025. The company expects to close the transaction on May 30, 2022.

The transaction was approved by the board of directors of the company.