ToolGen Incorporated announced a private placement of 2nd bearer non-guaranteed convertible bonds for the gross proceeds of KRW 33,000,000,000 on October 31, 2023. The bonds will be 100% convertible into 946,996 common shares at a conversion price of KRW 34,847 per share. The transaction has been approved by the shareholders of the company and is expected to close on November 2, 2023.

The bonds will be matured on a debt maturity date of November 2, 2028. The bonds will bear zero coupon rate.