Hanil Vacuum Co., Ltd. (KOSDAQ:A123840) announced a private placement of 14,000,000 common shares at a price of KRW 1,340 for gross proceeds of KRW 18,760,000,000 and series 10 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000, for aggregate gross proceeds of KRW 23,760,000,000 on November 3, 2020. The transaction will involve participation from Evercore Investment Holdings for the shares and KPM TECH Co., Ltd. (KOSDAQ:A042040) for the bonds. The transaction will take place through third party allocation method. The shares carry a face value of KRW 100 and will be issued at a premium. Post completion of the transaction, the number of common shares will increase from 64,305,977 shares to 78,305,977 shares. The bonds will carry a coupon rate of 3%, yield to maturity of 5%, and will mature on November 3, 2023. The bonds can be fully converted into 3,536,067 common shares representing 5.21% stake of the company at a fixed conversion price of KRW 1,414 per share. The conversion period starts from November 3, 2021 to October 3, 2023. The securities issued in the transaction will have a hold period of one year. The payment and subscription date for bonds is November 3, 2020 and the payment date for shares is November 11, 2020. The transaction has been approved by the board of directors of the company.

On the same date, the company announced that it has issued the bonds in its first tranche.