The E&M Co., Ltd. announced a private placement to issue Series 19 Bearer-Bearing Interest-Bearing, Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 2,000,000,000 on March 15, 2024. The transaction will include participation from new investor KS Korea Growth No. 1 for KRW 2,000,000,000.

The bonds are 100% convertible into 975,609 shares at a fixed conversion price of KRW 2,050 from April 18, 2025 to March 18, 2027. The bonds bear 1% coupon rate and 3% maturity rate and matures on April 18, 2027. The transaction has been approved by shareholders and is expected to close on April 18, 2024.

The securities are restricted to a hold period.