Automobile & PCB Inc. announced a private placement of series 19 unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 3,000,000,000 on September 29, 2021. The transaction will include participation from Baytree Co., Ltd. for KRW 2,000,000,000, Iron Partners Co., Ltd. for KRW 1,000,000,000. The bonds have a coupon rate of 2% and yield to maturity of 5%.

The bonds will mature on December 29, 2024. The bonds will be 100% converted into 1,339,883 common shares at a fixed conversion price of KRW 2,239 per share for an equity stake of 5.7%. The conversion period is from December 29, 2022 to November 29, 2024.

The payment date of the transaction is December 29, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.