KH E&T Co., Ltd. announced a private placement of 6,501,950 redeemable convertible preferred shares at an issue price of KRW 1,538 per share for gross proceeds of KRW 9,999,999,100 on June 9, 2022. The transaction will involve participation from returning investor Meritz Securities Co., Ltd.. The shares are fully convertible into 6,501,950 common shares of the company, representing 18.38% stake at a conversion price of KRW 874 per share. The conversion period is from June 17, 2023 - June 17, 2025. The shares will be issued through third party allotment, will carry a face value of KRW 100. The shares have a hold period of one year. The transaction is expected to close on June 17, 2022. The schedule listing date of the shares will be July 4, 2022. The transaction was approved by the board of directors of the company.