JOONGANG DNM Co.,Ltd announced a private placement of series 10 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 and series 11 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 5,000,000,000; for aggregate gross proceeds of KRW 20,000,000,000 on February 3, 2022. The series 10 bonds will include participation from new investor Geoyeon Holdings and series 11 bonds will include participation from Caelum Partners Co., Ltd. The bonds carry a rate coupon rate of 3% and Interest rate of 3%. The series 10 bonds will mature on February 25, 2025 and series 11 bonds will mature on April 29, 2025.

The series 10 bonds are 100% convertible into 24,834,437 common shares of the company at a fixed conversion price of KRW 604 per share and series 11 bonds are 100% convertible into 8,278,145 common shares of the company at a fixed conversion price of KRW 604 per share. The conversion period for series 10 bonds will start from February 25, 2023 and will end on January 25, 2025 and the conversion period of the series 11 bonds will start on April 29, 2023 and will end on March 29, 2025. The transaction has been approved by the board of directors of the company.

The series 10 bonds is expected to close on February 25, 2022 and the series 11 bonds is expected to close on April 29, 2022.