U&I Corporation announced a private placement of series 7 bearer type private equity convertible bonds for total face value of KRW 20,000,000,000, 2,800,000 common shares at a price of KRW 5,564 per share for gross proceeds of KRW 15,579,200,000, series 9 Bearer Type Private Equity Convertible Bond for proceeds of KRW 20,000,000,000 and series 8 Bearer Type Private Equity Convertible Bond for proceeds of KRW 20,000,000,000 for aggregate gross proceeds of KRW 75,579,200,000 on February 10, 2022. The transaction will include participation from new investors Yeouido Global Investment Co., Ltd. for the series 7 bonds, Hantuo Co., Ltd for series 9 bonds, YGI Investment Inc. for series 8 and Edison VE Co., Ltd. for the shares for a 22.24% stake in the company through third-party allotment. The bonds have a coupon rate of 2% per annum and yield to maturity of 4% per annum.

The series 7 bonds will mature on April 14, 2025 , series 8 will mature on July 29, 2025 and series 9 will mature on June 16, 2025. The series 7,series 8 and series 9 bonds will be 100% convertible into 2,902,336 common shares at a fixed conversion price of KRW 6,891 per share for an equity stake of 29.64%. The conversion period for series 7 bonds is from April 14, 2023 to March 14, 2025.

The conversion period for series 9 bonds is from June 16, 2023 to May 16, 2025. The conversion period for series 8 bonds is from July 29, 2023 to June 29, 2025. The subscription date of the bonds is February 10, 2022.

The payment date of the series 7 bonds transaction is April 14, 2022, series 9 bonds is June 16, 2022, series 8 bonds is July 29, 2022 and of the shares transaction is March 23, 2022. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.