E& Corporation CO., LTD. announced a private placement to issue Series 32 Bearer-type unsecured privately placed convertible bonds for the gross proceeds of KRW 5,000,000,000 on May 2, 2023. The transaction will include participation from new investor Swanicoco Co., Ltd. for KRW 5,000,000,000. The transaction has been approved by the board of directors and is expected to close on May 4, 2023.

The bond bears 0% interest rate and 0% maturity rate and will mature on May 04, 2028. The bonds are 100% convertible into 1,807,664 shares at a fixed conversion price of KRW 2,766 from May 04, 2024 to April 4, 2028. The bonds are restricted to a hold period of one year.