Solux Co., Ltd announced a private placement to issue Series 2 Bearer-bearing interest-bearing, unsecured private placement convertible bonds for a gross proceeds of KRW 24,200,000,000 on November 24, 2023. The bonds have maturity rate of 0%. The bonds will mature on December 26, 2026.

The bonds will be 100% converted into 1,250,387 common shares at a fixed conversion price of KRW 19,354 per share for an equity stake of 12.8%. The conversion period is from December 26, 2024 to November 26, 2026. The payment date of the transaction is December 26, 2023.

The transaction has been approved by the board of directors of the company.