H&B Design Co., Ltd. announced a private placement of series 9 uregistered coupon unguaranteed private convertible bond for an aggregate gross proceeds of KRW 14,000,000,000 on Mach 28, 2023. The transaction will include participation from returning investor Sangsangin Savings Bank for KRW 4,000,000,000 and MIRTO Co., Ltd for KRW 1,000,000,000. The bonds carry coupon rate of 3% and maturity rate of 7%.

The bond will mature on April 17, 2026. The bonds are fully convertible into 1,393,145 shares of the company at a conversion price of KRW 3,589 per share for a period starting April 17, 2024 and ending on March 16, 2026. The transaction is expected to close on April 17, 2023.

The transaction has been approved by the board of directors of the company.