Incon Co., Ltd. announced that it will issue series 12 nonguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on November 10, 2022. The transaction included participation from returning investor, Gold Pacific Co., Ltd. for KRW 10,000,000,000. The coupon rate and maturity rates are 3% and 7%.

The bond maturity date is November 10, 2025. The bonds are fully convertible into 8,628,127 shares representing 12.94% stake at a price of KRW 1,159 per share from November 10, 2023 to October 10, 2025. The transaction has been approved by the board of directors of the company.

The subscription date is November 10, 2022 and payment date is November 10, 2022.