On November 3, 2022, Kumho HT, Inc closed the transaction. The company announced a private placement of series 12 unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 8,700,000,000 on November 3, 2022. The transaction will include participation from BH Co., Ltd. The bonds carry 2% maturity rate, 2% coupon rate and will mature on November 9, 2025.

The bonds are 100% convertible into 8,546,168 shares at an conversion price of KRW 1,018. The bonds are convertible from November 9, 2023 and ends on October 9, 2025. The transaction was approved by the board of directors of the company.

The transaction is expected to close on November 9, 2022.