Prostemics Co., Ltd. announced a private placement of Series 6 Non-guaranteed Private convertible bonds with Bearer Type Interest Part for gross proceeds of KRW 6,000,000,000 on October 13, 2022. The transaction will include participation from Sangsangin Savings Bank and Sangsangin Plus Savings Bank Co.,Ltd. for KRW 3,000,000,000 each. The transaction has been approved by the board of directors of the company.

The bonds bear interest rate of 2% and maturity rate of 5%. The bonds will mature on October 17, 2025. The bonds are convertible at a conversion value of KRW 1,167.

The bonds are convertible into 5,141,388 common shares. The conversion period will start from October 17, 2023 and end on September 17, 2025. The transaction is expected to close on October 17, 2022.