The E&M Co., Ltd. announced a private placement of series 17 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 on April 6, 2023. The transaction will include participation from new investors Loen Partners Co., Ltd. for KRW 2,500,000,000 and Y Gold Co., Ltd. for KRW 2,500,000,000. The bonds carry fixed rate of interest of 2% per annum and maturity rate of 2% per annum.

The bonds will mature on April 19, 2026 and are fully convertible into 17,241,379 shares, at a fixed conversion price of KRW 290 per share from April 19, 2024 to March 19, 2026.The transaction has been approved by the board of directors. The securities issued are subjected to one year hold period. The transaction is expected to close on April 19, 2023.