Solux Co., Ltd announced a private placement that it will issue series 1 non-guaranteed private placement non-separable type bonds with warrants with bearer interest for gross proceeds of KRW 20,000,000,000 on May 15, 2023. The transaction included participation from Ari No. 1 Fund.

The bonds have 100% strike rate with strike price of KRW 7,434 per share. The company will also issue stock warrants to purchase 2,690,341 common shares of the company. The exercise period is from June 15, 2024, to June 15, 2026.

The transaction has been approved by the board of directors of the company and is expected to close by June 15, 2026.