AeroSpace Technology of Korea Inc. announced a private placement of round 6 kinds unsecured privately placed convertible bonds with bearer interest for proceeds of KRW 40,000,000,000, 15,855,039 common shares at a price of KRW 4415 for the gross proceeds of KRW 69,999,997,185; aggregate gross proceeds of KRW 109,999,997,185 on December 23, 2022. The transaction will include participation from returning investor UAMCO., Ltd. The bonds will be issued at a surface rate of 5% and interest rate of 8%. The bonds will mature on February 10, 2027. The bonds will be convertible into 8,958,566 shares at a price of KRW 4,465. The conversion period will start from February 10, 2024 and end on January 10, 2027. The transaction will have a subscription date of December 23, 2022 and payment date of February 10, 2023. The transaction has been approved by the board of directors.

Common Shares - The transaction will include participation from returning investor UAMCO., Ltd for 15,855,039 shares. The transaction is expected to close on February 10, 2023. The transaction has been approved by the shareholders of the company. The shares will be issued through third party allotment of shares. The shares are restricted to a hold period of one year.

On the same date the company announced that company has received KRW 40,000,0000,000 as part of Series 6 bonds in the transaction.