KH Feelux Co., Ltd. announced a private placement of round 3 Unregistered coupon non-guaranteed private bonds with warrants for gross proceeds of KRW 76,000,000 on February 17, 2022. The transaction will include participation from returning investor Sh Union. The bonds are zero coupon bonds with no yield to maturity and will mature on February 18, 2025.

The company will also issue warrants which are fully exercisable into 34,296,028 common shares representing 19.53% stake at an exercise price of KRW 2,216 per share from February 18, 2023 to January 18, 2025. The transaction has been approved by the board of directors of the company. The subscription date is on February 17, 2022 and the payment date is on February 18, 2022.

The warrants are subject to prohibition of exercise of conversion request for one year. The bonds are issued at par value.