TS Nexgen Co., Ltd. announced a private placement to issue Series 11 Bearer-Bearing Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 19,000,000,000 on March 28, 2024. The transaction will include participation from new investor Sangsangin Savings Bank for KRW 19,000,0000,000. The bonds bear 2% coupon rate, 5% maturity and matures on April 4, 2027.

The bonds are 100% convertible into 16,979,445 shares at a fixed conversion price of KRW 1,119 from April 4, 2025 to March 4, 2027. The transaction has been approved by the shareholders and is expected to close on April 4, 2024. The securities are restricted to a hold period.