Huvexel Co.,Ltd. announced a private placement of round 4 private convertible bonds for gross proceeds of KRW 1,000,000,000 on April 5, 2022. The transaction will include participation from new investor S&Jun Co., Ltd. The conversion rate of the bonds is 100%. The bonds are fully convertible into 248,632 common shares of the company at conversion price of KRW 4,022 per share which represents 4% of the stake in the company.

The conversion period starts at April 7, 2023 and ends at April 7, 2024. The maturity date of bonds is April 7, 2024. The payment date is April 7, 2022.

The bonds will carry zero coupon rate and maturity interest rate of 0.1 in the transaction. The transaction has been approved by the board of directors of the company. The securities to be issued will have a hold period of one year, post the closing.