HLB Co., Ltd. has announced a private placement of KRW 33,000,000,000 series 39 unsecured convertible bonds on June 25, 2024. The bonds carry rate of interest of 4% per annum and will mature on July 16, 2027. The bonds are fully convertible into 500,356 shares of the company at a conversion price of KRW 65,953 per share.

The conversion period will start from July 16, 2025 and ends on June 16, 2027. The transaction includes investor participation of F&F Co., Ltd for bonds of KRW 7,000,000,000 and Jihoon Park for bonds of KRW 10,000,000,000, Sujin Kim for bonds of KRW 7,500,000,000, Lee Dong-hee for bonds of KRW 8,500,000,000. The transaction is expected to close on July 16, 2024.

The transaction has been approved by the board of directors of the company. All the securities issued under this offering is subject to a hold period of one year from the date of issuance of debentures.