Yulho Co., Ltd. announced a private placement of series 11 bearer-bearing interest-bearing unsecured private placement convertible bonds for the gross proceeds of KRW 10,000,000,000 on November 9, 2023. The bonds carry a coupon rate of 2% and maturity rate of 4% and will mature on February 22, 2027. The bonds are fully convertible into 3,653,635 common shares at a conversion value of KRW 2,737 per share from February 22, 2025 to January 22, 2027.

The bonds are restricted to a hold period of 1 year from the date of bond issuance. The transaction will include participation from new investor 153 Daeja Association. The transaction has been approved by the shareholders of the company.

The transaction is expected to close on February 22, 2024.