Telefield Inc announces private placement to issue Series 1 Bearer, Non-Guaranteed Private Placement Convertible Bonds due January 30, 2027 for principal amount KRW 30,000,000,000 on November 30, 2023. The transaction included participation from new investor, Prime Fund. The bonds will bear a coupon interest rate 0% and will mature on January 30, 2027.

The bonds can be converted to shares of the company for conversion price of KRW 2,304 at 100% conversion rate. The transaction is expected to close on January 30, 2024. The transaction has been approved by the board of directors of the company.