Optrontec Inc. announced a private placement of series 6 unregistered unsecured convertible private bond with warrants for the gross proceeds of KRW 8,000,000,000 on March 3, 2023. The transaction will include participation from new investor, CHOISANGHO, CORP. The bonds bear 2% coupon rate and 12% maturity rate and will mature on March 15, 2026.

The bonds are 100% convertible into 2,209,944 common shares at a fixed conversion price of KRW 3,620 from Mach 15, 2024 to March 14, 2026. The bonds have a holding period of 1 year from the date of issuance. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on March 15, 2023.