Daiyang Metal Co., Ltd. announced a private placement of series 22 domestic bearer type interest part non-guaranteed private placement convertible bonds for gross proceeds of KRW 20,000,000,000 on October 20, 2022. The transaction will include participation from BH fund for KRW 20,000,000 in the transaction. The bonds carry 5% maturity rate, and will mature on October 27, 2025.

The bonds are 100% convertible into 5,868,544 shares at a conversion price of KRW 3,408. The bonds are convertible from October 27, 2023 and ends on September 27, 2025. The transaction was approved by the board of directors of the company.

The transaction is expected to close on October 27, 2022.