Hyung Kuk F&B Co., Ltd. announced a private placement of 3rd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on April 29, 2022. The transaction will include participation from ON No. 1 Private Equity Joint Venture Company.

The bond carries no coupon and will mature on May 6, 2027. The bonds are convertible into common shares at a fixed conversion price of KRW 4,513 per share between May 6, 2023 to April 6, 2027. The subscription date of the transaction is May 3, 2022 and payment date is May 6, 2022.

The transaction has been approved by board of directors of the company.