Sejong Medical Co., Ltd. announced a private placement of series 3 unregistered coupon nonguaranteed private convertible bond for KRW 20,000,000,000 on November 29, 2021. The transaction will include participation from new investor, Meritz Securities Co., Ltd., Investment Arm. The bonds will mature on January 12, 2025.

The bonds carry yield to maturity rate of 4%, fixed interest rate of 2%, will mature on September 17, 2024, and are fully convertible into 4,012,841 common shares, representing 9.86% stake in the company, at a fixed conversion price of KRW 4,012,841 per share from January 12, 2023 to December 12, 2024. The transaction is expected to close on January 12, 2022. The transaction has been approved by the board of directors.