Vidente Co., Ltd. announced a private placement of series 19 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 50,000,000,000 on May 23, 2022. The transaction will include participation from United Arab Emirates No.1 Cooperative. The bonds will carry an interest rate and yield to maturity of 3% each, are issued at par value and will mature on September 30, 2025.

The bonds will be 100% convertible into 4,262,938 common shares representing 7.69% stake at a price of KRW 11,729 per share. The conversion period is from September 30, 2023 to August 30, 2025. The transaction has been approved by the board of directors of the company.

The bonds issued will be subject to restriction period of one year from issuance. The transaction is expected to close on May 25, 2022.