FN REPUBLIC Co., Ltd announced that it will issue series 22 unregistered nonguaranteed domestic private convertible bonds for gross proceeds of KRW 15,000,000,000 and 6,000,000 shares of par value KRW 500 at an issue price of KRW 1,718 per share for gross proceeds of KRW 10,308,000,000 for aggregate gross proceeds of KRW 25,308,000,000 on December 6, 2021. The transaction will involve participation from Befine 1 Association for bonds and Cayenne No. 1 Combination for shares.

The bonds will bear an interest at the rate of 2% per annum and maturity rate of 4% with maturity date on March 31, 2025. The bonds are fully convertible into 7,708,119 common shares at a fixed conversion price of KRW 1,946 per share from March 31, 2023 to February 27, 2025. The date of subscription and expected date of payment is March 31, 2022.

The transaction is approved by the board of directors of the company. All securities issued will be subject to a hold period of one year. At present, the company has 10,989,409 shares issued.