Haesung Optics Co., Ltd. announced a private placemen to issue Series 12 Bearer-Bearing Interest Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 5,000,000,000 on May 17, 2024. The transaction will include participation from new investors Sangsangin Savings Bank for KRW 4,500,000,000 and Sangsangin Investment & Securities Co.,Ltd. for KRW 500,000,000. The bonds are 1100% convertible into 2,910,360 common shares at a fixed conversion price of KRW 1,716 from May 21, 2025 to April 21, 2027.

The bonds bear 3% coupon rate and 6% maturity rate and matures on May 21, 2027. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on May 21, 2024.