Kencoa Aerospace Corporation announced a private placement to issue Series 11 Bearer Private Placement Convertible Bonds for the gross proceeds of KRW 130,000,000,000 on January 18, 2024. The transaction will include participation from new investor Kepler Co., Ltd. The bonds bear 3% coupon rate and 0% maturity rate. The bonds are 100% convertible into 9,289,031 shares at a fixed conversion price of KRW 13,995.

The transaction has been approved by the shareholders of the company. The securities are restricted to a hold period of 1 year.