Cayman Golden Century Wheel Group Limited announced that it will issue series 3 unregistered coupon unguaranteed private convertible bond with bearer interest for gross proceeds of KRW 20,000,000,000 and series 4 unregistered coupon unguaranteed private convertible bond with bearer interest for gross proceeds of KRW 20,000,000,000 on July 22, 2022. The transaction will include participation from Able Korea Fund 1 and returning investor Ciereu Co., Ltd. In series 3 the bonds carry fixed coupon rate of 3% per annum, yield to maturity rate of 5% per annum, will mature on September 14, 2025, and are fully convertible into 52,083,333 common shares, representing 29.07% stake in the company, at a fixed conversion price of KRW 384 per share from September 14, 2023, to August 14, 2025 and series 4 the bonds carry fixed coupon rate of 3% per annum, yield to maturity rate of 5% per annum, will mature on October 14, 2025, and are fully convertible into 52,083,333 common shares at a fixed conversion price of KRW 384 per share from October 14, 2023 to September 14, 2025. The transaction has been approved by the board of directors of the company.

For Series 3 the subscription date is July 22, 2022. The transaction is expected to close on September 14, 2022. For Series 4 the subscription date is October 14, 2022.

The transaction is expected to close on October 14, 2022. The transaction has been approved by the board of directors of the company.