T Scientific Co., Ltd announced a private placement of series 16 Unregistered nonguaranteed private nondetachable bond with warrants for gross proceeds of KRW 30,000,000,000 on November 25, 2021. The transaction will include participation from CJ 1 Investment Association. The bonds are issued at zero interest rate and zero yield to maturity.

The bond would mature on January 28, 2025. The warrants are exercisable into 7,594,936 common shares for 13.91% stake of the company at a fixed exercise price of KRW 3,950 share. The exercise period is from January 28, 2023 to December 28, 2024.

The transaction has been approved by the board of directors of the company. The subscription date is November 25, 2021 and the payment date is January 28, 2022. The bonds to be issued shall have a hold period of one year from the closing of the transaction.