Oscotec Inc. announced that it will issue 1,160,538 convertible preferred shares at a par value of KR 500 per share at an issue price of KRW 25,850 per share for gross proceeds of KRW 29,999,907,300 on March 24, 2022. The capital will be issued through 3rd party allocation increase method. The transaction included participation from Tiger Asset Management Discretionary Investment Co., Ltd. for 773,694 shares, Meritz Securities Co., Ltd., Investment Arm for 193,423 shares, and Asset One Asset Management for 193,421 shares.

The shares will be convertible to 1,160,538 shares at issuance price from April 02, 2023 to April 01, 2025. The transaction is expected to close on April 1, 2022. The transaction has been approved by the board of directors.

The securities issued are subject to 1 year hold period.