Neofect Co.,Ltd announced a private placement of series 6 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 6,000,000,000 on July 14, 2023. The transacytion will include participation from new investor Indigo New Technology Association No. 38.

The bonds carry a coupon rate of 2% and maturity rate of 2% and will mature on July 21, 2026. The bonds are fully convertible into 3,957,783 common shares at a conversion value of KRW 1,516 per share from July 21, 2024 to June 21, 2026. The bonds are restricted to a hold period of 1 year.

The transaction has been approved by the shareholders of the company. The transaction is expected to close on July 21, 2023.