SEMCNS Co., Ltd announced a private placement of series 1 bearer type non-guaranteed private placement convertible bonds for gross proceeds of KRW 55,000,000,000 on November 26, 2021. The transaction will include participation from Daishin New Technology Fund No. 11. The bonds do not carry any interest. The bonds will mature on November 30, 2026. The bonds are fully convertible at a fixed conversion price of KRW 6,429 per shares into 8,554,985 common shares from November 30, 2022 to October 30, 2026. The company expects to close the transaction on November 30, 2021. The transaction was approved by the board of directors of the company.