HANKOOK Technology Inc. announced a private placement of series 25 unsecured non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 5,000,000,000 on October 31, 2022. The transaction will include participation from Manhattan. The series 25 bonds will have a surface interest rate and maturity rate of 5% and will mature on December 15, 2025.

The bonds will be fully convertible into 6,418,385 common shares at issue conversion price of KRW 779 per share and have a conversion period beginning on December 15, 2023 and ending on November 15, 2025. The transaction has been approved by board of directors of the company. The subscription date was August 12, 2022 and the expected date of payment is December 15, 2022.

The company will issue the bonds through yearning.