Sejong Medical Co., Ltd. announced a private placement of 9 series unregistered nonguaranteed unsecured private convertible bonds with warrants for gross proceeds of KRW 30,000,000,000 on December 21, 2022. The transaction will include participation from Helixmith Co., Ltd. The bond carry coupon rate of 0% and have yield to maturity of 4.5%. The bonds will mature on December 26, 2025.

The bonds will be 100% convertible into 8,960,573 common shares of the company, representing 16.34% of the total number of shares at a fixed conversion price of KRW 3,348 per share. The conversion period is from December 26, 2023 to November 26, 2025. The transaction has a subscription date of December 21, 2022 and payment date of December 26, 2022.

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