ITM Semiconductor Co., Ltd. announced a private placement of 4th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on March 28, 2023. The transaction will include participation from Fund 1 till Fund 6 of KB Securities Co., Ltd., Fund 7 till Fund 11 of NH Investment & Securities Co., Ltd., Fund 12 till Fund15 of Samsung Securities Co., Ltd., Fund 16 of Korea Investment & Securities Co., Ltd., JB Woori Capital Co., Ltd, EBEST Investment & Securities Co., Ltd. and SK Securities Co., Ltd. The bond carry coupon rate of 0% and have yield to maturity of 0%. The bonds will mature on March 30, 2028.

The bonds will be 100% convertible into 765,315 common shares of the company, representing 3.37% of the total number of shares at a fixed conversion price of KRW 26,133 per share. The conversion period is from March 30, 2024 to February 29, 2028. The transaction has a subscription date of March 30, 2023 and payment date of March 30, 2023.

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