Daiyang Metal Co., Ltd announced that it will issue series 20 domestic bearer type interest part no guarantee private placement convertible bond for gross proceeds of KRW 12,000,000,000 on November 29, 2021. The transaction will include participation from Nine One Ventures Co., Ltd. The bonds will bear surface interest rate of 0% per annum and maturity rate of 3% per annum. The bonds will mature on January 28, 2025.

The bonds are fully convertible into 2,380,952 common shares representing 7.02% stake at a fixed conversion price of KRW 5,040 per share from January 28, 2023 to December 28, 2024. The date of subscription is November 30, 2021 and expected date of payment is January 28, 2022. The transaction is approved by the board of directors of the company.