TS Nexgen Co., Ltd. announced a private placement of series 12 Bearer-bearing interest-bearing, unsecured private placement convertible bonds for the gross proceeds of KRW 6,050,000,000 on May 3, 2024. The transaction will include participation from new investor SU-Holdings Co.,Ltd. The bonds carry a coupon rate of 0% and maturity rate of 3% and will mature on May 7, 2027. The bonds are fully convertible into 6,820,744 common shares at a conversion price of KRW 887 per share from May 7, 2025 to May 6, 2027.

The bonds are restricted to ahold period of 1 year. The transaction has been approved by the shareholders of the company and is expected to close on May 7, 2024.