Nextchip Co., Ltd. announced a private placement of series 1 non-guaranteed private placement convertible bonds for the gross proceeds of KRW 30,000,000,000 on October 10, 2023. The transaction will include participation from new investors Daishin New Technology Investment Fund 13 for KRW 27,000,000,000 and 2023 Shinhan-JB Woori-Daishin Listed Company Mezzanine New Technology Investment Fund for KRW 3,000,000,000. The transaction has been approved by the shareholders of the company.

The bonds carry coupon rate & maturity rate of 0% and will mature on October 12, 2028. The bonds are fully convertible into 1,800,180 common shares at a conversion value of KRW 16,665 per share from October 12, 2024 to September 12, 2028. The bonds are restricted to a hold period of one year.

The transaction is expected to close on October 12, 2203.