THE CODI Co.,LTD. announced a private placement to issue 9th bearer-free interest-bearing non-guaranteed private placement convertible bonds for the gross proceeds of KRW 6,000,000,000 on September 5, 2023. The transaction is expected to close on December 5, 2023. The transaction has been approved by the board of directors of the company.

The bonds are 100% convertible into 912,686 common shares at a conversion price of KRW 6,574 per share. The bonds will be matured on December 5, 2026. The bonds will have an interest rate of 5%.

The transaction will include participation from returning investor, Gangwon Construction Industry Co., Ltd. The notes yield 7% per annum. The securities are restricted to a hold period.