Kwangmu Co.,Ltd. announced a private placement of series 42 bearer unsecured convertible bonds for the gross proceeds of KRW 8,000,000,000 on December 5, 2023. The bonds will be 100% convertible into 3,866,602 common shares at a conversion price of KRW 2,069 per share. The transaction has been approved by the shareholders of the company and is expected to close on March 28, 2024.

The bonds will be matured on a debt maturity date of March 28, 2027 and have a maturity interest rate and coupon rate of 3% each. The transaction will include participation from new investor, Haemil Investment Partners Co., Ltd.