RFsemi Technologies, Inc. announced a private placement to issue Series 6 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 20,000,000,000 on April 3, 2023 The transaction will include participation from Black Pearl No. 3 Association for 20,000,000,000. The bonds bear 3% interest rate and 5% maturity rate, 100% convertible into 2,888,503 common shares at a fixed conversion price of KRW 6,924 per share from June 2, 2024 to May 02, 2025 and matures on June 2, 2025.

The transaction has been approved by the board of directors and is expected to close on June 2, 2023. The bonds are restricted to a hold period of one year from the date of announcement.