Innox Corporation announced that it will issue series 3 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on April 7, 2023. The bonds do not bear any coupon and have 2% yield to maturity. The bonds will mature on April 11, 2028.

The bonds will be issued at par. The bonds are fully convertible into 429,135 shares representing 4.57% stake at a fixed conversion price of KRW 34,954 each starting from April 11, 2024 till March 11, 2028. The subscription date and payment date is April 11, 2023.

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