ANTN Co., Ltd. announced a private placement of series 2 bearer unregistered non-guaranteed private convertible bonds of aggregate gross proceeds of KRW 5,500,000,000 on May 7, 2020. The bonds have a coupon rate of 5.46% per annum. The transaction include participation from returning investor SSR Inc. (KOSDAQ:A275630).

The bonds will mature on May 29, 2023. The bonds are 100% convertible into 3,971,119 common shares at a price of KRW 1,385. The bonds will convert from May 29, 2021 to April 29, 2023.

The transaction has been approved by the board of directors. The transaction is expected to close on May 29, 2020.