EV Advanced Material Co.,Ltd announced a private placement of series 7 non-guaranteed private equity convertible bonds for gross proceeds of KRW 15,000,000,000 on July 1, 2021. The transaction will include participation from returning investor NexturnBioscience Co., Ltd. The bonds will be issued at par, will carry fixed coupon rate of 2% per annum, interest to maturity rate of 4%, will mature on July 05, 2024, and will be convertible into 2,515,090 common shares of the company, representing 10.8% stake, at a fixed conversion price of KRW 5,964 per share from July 05, 2022 to June 05, 2024. The transaction is expected to close on July 5, 2021.

The transaction was approved by board of directors of the company.