Barun Electronics Co., Ltd. announced a private placement for total gross proceeds of KRW 9,805 million on September 23, 2022.

The company will issue series 14 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 5,000,000,000 on September 23, 2022. The transaction will include participation from Nepos New Technology Association No. 192. The series 14 bonds will be issued through mother-in law method and will carry an annual coupon rate of 2%. The bonds will mature on October 14, 2025 having yield to maturity of 2%. The bonds are fully convertible into 881,367 common shares at a conversion price of KRW 5,673 per share and will be convertible between the period of October 14, 2023 and September 14, 2025. The subscription date is September 23, 2022expected date of payment is October 14, 2022. The transaction has been approved by board of directors of the company.

The company will also issue 1,000,000 common shares at an issue price of KRW 4,805 per share for total gross proceeds of KRW 4,805,000,000 on September 23, 2022. The transaction will include participation from BH Co., Ltd. for 1,000,000 shares. The method of capital increase is through third party allocation. The transaction has been approved by board of directors of the company. The expected date of payment is October 28, 2022.

The company will also issue series 17 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 30,000,000,000. The series 17 bonds will be fully convertible into 5,288,207 common shares at an issue conversion price of 5,673. The subscription date is September 23, 2022.