Tfe Inc announces private placement of series 1 interest-bearing, unsecured private placement convertible bonds for gross proceeds of KRW 30,000,000,000 on February 5, 2024. The transaction will include participation from JB Woori-Petrico Jeilho New Technology Business Fund. The bonds will bear a interest rate of 0% and will mature on February 8, 2029.

The bonds will be convertible into 966,184 shares at an conversion price of KRW 31,050 per share from February 8, 2025 to January 8, 2029. The transaction has been approved by the board of the company. the transaction is expected to close on February 8, 2024.

The transaction is restricted to a hold period of 1 year.