Sacheon Aerospace Manufacturing Ind. Co., Ltd announced a private placement of series 5 Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 6,090,000,000 on February 25, 2022. The transaction will include participation from new investor, KRENS Co., Ltd. The bond is issued at 10% surface interest rate rate, 12% maturity rate and will mature on February 25, 2025.

The bonds will be 100% converted into 12,180,000 common shares representing 67.98% stake of the company at a fixed conversion price of KRW 500 per share. The conversion period is from February 25, 2023 to January 25, 2025. The transaction has been approved by the board of directors of the company.