SEONGAN CO., Ltd. announced a private placement of series 5 Unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 5,000,000,000 on February 23, 2023. The transaction will include participation from Global Standard Technology, Limited for KRW 5,000,000,000. The bonds bear zero interest rate and 6% maturity rate, matures on February 24, 2026, bonds are converted into 4,887,585 common shares at a fixed conversion price of KRW 1,023 from February 24, 2024 to January 24, 2026.

The transaction has been approved by the board of directors and is expected to close on February 24, 2023. The bonds are restricted to a hold period of one year.