Daehan Green Power Corporation announced a private placement of 22,807,017 common shares at an issue price of KRW 570 per share for the gross proceeds of KRW 12,999,999,690 and 33rd unsecured privately placed convertible bonds for gross proceeds of KRW 20,000,000,000 on December 12, 2022. The transaction will include participation from CBI Co., Ltd. and convertible bonds include participation from Unicorn New Growth Fund No. 1. The shares are allotted through third party allotment and have a holding period of 1 year.

The bond carry coupon rate of 4% and have yield to maturity of 6%. The bonds will mature on April 28, 2026. The bonds will be 100% convertible into 31,298,904 common shares of the company, representing 14.65% of the total number of shares at a fixed conversion price of KRW 639 per share.

The conversion period is from April 28, 2024 to March 28, 2026. The transaction has a subscription date of December 12, 2022 and payment date of April 28, 2023. The transaction has been approved by the board of directors of the company.

The common shares are expected to close on December 27, 2022 and convertible debt is April 28, 2023.