Smec Co.,Ltd announced that it will issue 7th Bearer Type Interest Part No Guarantee Private Placement Convertible Bond for gross proceeds of KRW 10,000,000,000 on October 26, 2021. The issuance of convertible bonds is through domestic private placement. The transaction is expected to close on October 28, 2021.

The bonds carry zero coupon rate and will mature on October 28, 2024. The bonds are 100% convertible into 5,592,841 shares at an conversion price pf KRW 1,788. The bonds will start conversion from October 28, 2022 and end on September 28, 2024.

The transaction will include participation from SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 2,500,000,000 and BNK Securities Co., Ltd., Investment Arm for KRW 1,500,000,000.