Ace Technologies Corp. announced a private placement of 51 series non-guaranteed private convertible bonds with bearer type Interest part for gross proceeds of KRW 40,000,000,000 on August 18, 2022. The transaction will include participation from new investor, NV Mezzanine Plus Private Equity Joint Venture.

The bonds will not carry any interest rate and will have maturity rate of 6% and will mature on September 1, 2025. The bonds will be fully convertible into 5,205,622 shares of the company at a fixed conversion price of KRW 5,379 between the period of September 01, 2023 to August 25, 2025. The payment date is September 01, 2022.

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