hyungji Elite Co., Ltd. announced a private placement of series 7 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 on April 3, 2023. The transaction will include participation from Korea Investment & Securities Co., Ltd., Investment Arm. The zero coupon bonds will have a yield to maturity rate of 3% maturing on April 5, 2026.

The bonds will be fully convertible into 4,055,150 shares at an issue conversion price of KRW 1,233 per share between the period starting from April 5, 2024 and ending on March 5, 2026. The securities have a hold period of one year. The transaction has been approved by board of directors of the company.

The expected date of payment is April 5, 2023.