Jaeyoung Solutec Co., Ltd. announced a private placement of 13th registered private convertible bonds without guarantee for gross proceeds of KRW 4,000,000,000 on January 18, 2022. The bonds will be issued at par. The bonds bear coupon at the fixed rate of 2% per annum and interest rate to maturity is 4% per annum.

The bonds will mature on January 26, 2027. The bonds are 100% convertible into 3,490,401 common shares at a fixed price of KRW 1,146 per share from January 26, 2023 to January 25, 2027. The transaction will include sole participation from new investor Nvestor Co., Ltd..

The transaction was approved by the board of directors of the company. The subscription date is January 19, 2022. The transaction is expected to close on January 26, 2022.