Kwangmu Co.,Ltd announced a private placement of Series 40 non-guaranteed private placement convertible bond for gross proceeds of KRW 3,000,000,000 on June 23, 2023. The round will include participation from new investor, Kookmin Cultural Foundation. The bonds have a coupon rate of 4% and will mature on July 6, 20256with maturity rate of 6%.

The bonds have a lockup period of 1 year from their issuance date and are 100% convertible into 880,281 shares at a conversion price of KRW 3,408 per share, having a conversion period beginning on July 3, 2024 and ending on June 3, 2026. The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 3, 2023.