Telefield Inc announces private placement of Series 2 Bearer, Non-Guaranteed Private Placement Non-Separable Convertible Bonds With Warrants Due March 27, 2027 for principal amount of KRW 5,000,000,000 on November 30, 2023. The bonds will bear a coupon interest rate 0% , maturity interest rate for 1% and will mature on March 27, 2027. The bonds can be converted to shares of the company for exercise price of KRW 2,304 at 100% conversion rate.

The transaction is expected to close on March 27, 2024. The transaction included participation from new investor, J Investment Fund for the gross proceeds of KRW 5,000,000,000. The transaction has been approved by the board of directors of the company.