Solution Advanced Technology Co., Ltd. announced a private placement of series 2 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 9,000,000,000 on May 17, 2023. The transaction will include participation from new investors, Leading-Jayden Young New Technology Business Investment Fund 1 for KRW 4,000,000,000 and Kiwoom-Aureum New Technology Business Investment Fund 1 for KRW 5,000,000,000. The zero coupon bonds will mature on May 19, 2028 having yield to maturity rate of 3%.

The bonds will be fully convertible into 2,068,490 common shares at an issue conversion price of KRW 4,351 per share between the period starting from May 19, 2024 and ending on May 12, 2028. The expected date of payment is May 19, 2023. The transaction has been approved by the board of directors of the company.

The securities have a hold period of one year.