Lightron Inc. announced a private placement of series 11 unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 3,000,000,000 on May 25, 2023. The transaction will include participation from new investor The Korea Securities Finance Corporation. The bonds carry a coupon rate of 3% and maturity rate of 9% and will mature on May 30, 2026.

The bonds are fully convertible into 903,614 common shares at a conversion price of KRW 3,320 per share from May 30, 2024 to April 30, 2026. The bonds are restricted to a hold period of 1 year from the date of issuance. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on May 30, 2023.