Justem Co., Ltd. announced a private placement to issue Series 1 Unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 15,000,000,000 on May 2, 2023. The transaction will include participation from new investor S&S Tech Cooperation Fund. The bonds bear 0% coupon rate, 2% yield to maturity and will mature on May 4, 2028.

The bonds are 100% convertible into 867,402 common shares at a fixed conversion price of KRW 17,293 from May 4, 2024 to April 4, 2028. The transaction has been approved by the shareholders of the company and is expected to close on May 4, 2023. The bonds are restricted to a hold period of one year.