Organic Tea Cosmetics Holdings Company Limited announced that it will issue series 4 overseas registered non-guaranteed privately placed convertible bonds for gross proceeds of KRW 6,510,000,000 on May 12, 2023. The transaction will include participation from new investor, HENG YU CAPITAL INVESTMENT PTE. LTD. The bonds bear coupon rate of 1% and 6% yield to maturity.

The bonds will mature on May 18, 2026. The bonds will be issued at par. The bonds are fully convertible into 30,000,000 shares representing 16.19% stake at a fixed conversion price of KRW 217 each starting from May 19, 2024 till April 18, 2026.

The subscription date is May 12, 2023 and expected payment date is May 12, 2023. All security issued in the transaction have restriction of one year from the date of issuance. The transaction has been approved by the board of directors of the company.