ICK Co., Ltd. announced a private placement of series 12 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 12,000,000,000 on June 23, 2022. The transaction will include participation from new investor Ulysses No.1 Fund. The bonds have surface interest rate of 2% and maturity rate of 5%.

The bonds will mature on September 20, 2025. The bonds are convertible into 2,973,977 shares equal to 8.36% stake in the company at a conversion value of KRW 4,035 from September 20, 2023, to August 20, 2025. The payment date of transaction is September 20, 2022.

The transaction was approved by board of directors of the company.