SC Engineering Co., Ltd announced a private placement of series 11 non-guaranteed private equity convertible bonds with bearer type interest part for a gross proceeds of KRW 10,000,000,000 on November 22, 2021. The transaction will include participation from Innovation Index No. 1 for KRW 10,000,000,000.

The bonds have a coupon rate of 2% and yield to maturity of 3%. The bonds will mature on May 17, 2025. The bonds will be 100% converted into 2,909,514 common shares at a fixed conversion price of KRW 3,437 per share for an equity stake of 8.84%.

The conversion period is from May 17, 2023 to April 17, 2025. The payment date of the transaction is May 17, 2022. The securities issued in the transaction are subject to a lock up period of one year.

The transaction has been approved by the board of directors of the company.