SungEel HiTech Co., Ltd. announced a private placement of series 3 bearer-bearing interest-bearing, unsecured private placement convertible bonds for the gross proceeds of KRW 50,000,000,000 on April 25, 2024. The bonds carry a coupon rate of 0% and maturity rate of 2 % and will mature on April 30, 2027. The bonds are fully convertible into 631,544 common shares at a conversion price of KRW 79,171 per share from October 30, 2025 to March 30, 2027.

The transaction has been approved by the shareholders of the company and is expected to close on April 30, 2024. The bonds are restricted to ahold period of one year. The transaction will include participation from new investors KB Securities Co.,Ltd for KRW 6,300,000,000, NH Investment & Securities Co., Ltd. for KRW 3,700,000,000, Korea Investment & Securities Co., Ltd. for KRW 37,600,000,000, Samsung Securities Co.,Ltd. for KRW 2,400,000,000.