KH Feelux Co., Ltd. announced a private placement of series 23 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 35,000,000,000 on February 17, 2022. The transaction will include participation from returning investor Meritz Securities Co., Ltd., Investment Arm. The bonds carry surface interest rate 2% and maturity rate of 5% and will mature on February 18, 2025, and are fully convertible into 15,794,223 shares, representing 10.05% stake, at a fixed conversion price of KRW 2,216 per share from February 18, 2023 to February 11, 2025.

The payment date is February 18, 2022 and the subscription date is on February 17, 2022. The transaction has been approved by the board of directors. The bonds are issued at par value and are subject to a hold period of one year from issuance.