AeroSpace Technology of Korea Inc announced a private placement of series 10 Bearer-type non-guaranteed private convertible bonds for a gross proceeds of KRW 36,000,000,000 on March 29, 2024. The transaction will include participation from new investors, Hana Everbest Corporate Financial Stability Private Equity Investment Limited Partnership, Woori Q Corporate Financial Stability Private Investment Limited Partnership and Yuil Growth Corporate Structure Innovation New Technology Fund. The bonds have coupon rate 1% and maturity rate of 0%. The bonds will mature on October 12 , 2028. The bonds will be 100% converted into 72,000,000 common shares at a fixed conversion price of KRW 500 per share for an equity stake of 38.8%. The conversion period is from April 13, 2025 to September 12, 2027. The payment date of the transaction is April 12, 2024. The transaction has been approved by the board of directors of the company.

On the same day, the company announced a private placement of series 12th Bearer-type non-guaranteed private convertible bonds for a gross proceeds of KRW 30,000,000,000, for the total gross proceeds of KRW 66,000,000,000. The transaction will include participation from returning investor, Alpha Aero LLC. The bonds have coupon rate 3% and maturity rate of 3%. The bonds will mature on April 12, 2029. The bonds will be 100% converted into 60,000,000 common shares at a fixed conversion price of KRW 500 per share for an equity stake of 38.8%. The conversion period is from September 13, 2027 to March 12, 2029. The payment date of the transaction is April 12, 2024. The transaction has been approved by the board of directors of the company.