THE E&M CO., LTD. The E&M Co., Ltd. announced a private placement of series 16 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 on August 20, 2021. The transaction will include participation from Gluon Bond Investment Illim. The bonds carry fixed rate of interest of 1% per annum and maturity rate of 1% per annum.
The bonds will mature on October 28, 2024 and are fully convertible into 5,307,855 shares, at a fixed conversion price of KRW 942 per share from October 28, 2022 to September 28, 2024. The bonds are redeemable. The payment date is October 28, 2021.
The transaction has been approved by the board of directors. The securities issued are subjected to one year hold period.
