KH E&T Co., Ltd. announced a private placement of round 12 unregistered coupon non-guaranteed private equity convertible bond with bearer interest for gross proceeds of KRW 15,000,000,000 on February 17, 2022. The transaction included participation from returning investor Meritz Securities Co., Ltd., Investment Arm. The bonds are issued at 2% surface interest rate, 5% maturity rate and will mature on February 18, 2025.

The bonds are fully convertible into 17,162,471 common shares of the company, representing 18.38% stake at a conversion price of KRW 874 per share. The conversion period is from February 18, 2023 to February 11, 2025. The subscription date is February 17, 2022 and is expected to closed by February 18, 2022.

The transaction has been approved by the board of directors of the company. The bonds carry a hold period of one year.