Neofect Co.,Ltd announced a private placement of 3,076,922 common shares at an issue price of KRW 1,300 per share for the gross proceeds of KRW 3,999,998,600 and series 2 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 5,000,000,000 and series 3 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 for aggregate gross proceeds of KRW 13,999,998,600 on January 6, 2023. The transaction will include participation from Scandi New Technology Association No. 278 for 1,923,076 shares and Frenda New Technology Association No. 271 for 1,153,846 shares. The shares are allotted through third party allocation increase method and are restricted to a hold period of 1 year. The transaction has been approved by shareholders of the company. The transaction is expected to close on March 30, 2023.

For Series 2 Unsecured Privately Placed Convertible Bonds with Bearer Interest-The transaction included Hive New Technology Association No. 270 for KRW 5,000,000,000. The transaction has been approved by the board of directors of the company. The bonds bear 2% interest rate, 2% yield to maturity and will mature on April 6, 2026. The bonds are 100% convertible into 3,344,481 common shares at a fixed conversion price of KRW 1,495 per share from April 06, 2024 to March 06, 2026. The transaction is expected to close on April 6, 2023. The bonds are restricted to a hold period of one year from the date of issuance.

The series 3 bonds transaction will include participation from Hive New Technology Association No. 270. The bonds will have a coupon rate and yield to maturity rate of 2%. The bonds will mature on April 13, 2026 and will be fully convertible into 2,942,907 common shares at an issue conversion price of KRW 1,699 between the period starting from April 13, 2024 and ending on March 13, 2026. The bonds will be issued through yearning method. The transaction has been approved by board of directors of the company. The expected date of payment is April 13, 2023 and subscription date is October 1, 2023. The bonds have a lock-up period of one year from the date of issuance.

The Series 4 bonds transaction will included participation from Hive New Technology Association No. 270 for KRW 5,000,000,000. The transaction has been approved by the board of directors of the company. The bonds bear 2% interest rate, 2% yield to maturity and will mature on April 20, 2026. The bonds are 100% convertible into 3,344,481 common shares at a fixed conversion price of KRW 1,495 per share from April 20, 2024 to March 20, 2026. The transaction is expected to close on April 20, 2023.

On January 9, 2023, the company announced that series 3 bonds will now be fully convertible into 3,344,481 common shares at an issue conversion price of KRW 1,495.