JETEMA, Co., Ltd. announced a private placement to issue Series 9 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 56,000,000,000 on July 4, 2023. The transaction will include participation from new investors Korea Investment Re-Up Fund II for KRW 41,000,000,000 and Hantoo Shinhan Lake K-Beauty New Technology Business Fund for KRW 15,000,000,000. The transaction has been approved by the shareholders of the company.

The bonds bear zero coupon rate and 2% maturity rate, will mature on July 6, 2026. The bonds are 100% convertible into 2,770,905 common shares at a fixed conversion price of KRW 20,210 from July 6, 2024 to June 6, 2026. The bonds are restricted to a hold period of one year.

The transaction is expected to close on July 6, 2023.