E-Tron Co., Ltd (KOSDAQ:A096040) announced a private placement of round 5 Bearer-type interest-bearing private convertible bonds for gross proceeds of KRW 30,000,000,000 on April 22, 2021. The bonds carry a coupon rate of 1.5% and interest rate to maturity of 3%. The bonds will mature on May 21, 2024.

The bonds are convertible into 37,641,154 common shares at a conversion price of KRW 797. The subscription date of the transaction is April 22, 2021 and payment date is May 21, 2021. The transaction has been approved by the board of directors of the company.

The conversion period starts from May 21, 2022 and ends April 21, 2024. Early repayment may be requested for an amount corresponding to all or part of the debentures issued on the payment date. The transaction will include participation from returning investor E Investment&Development Co., Ltd. (KOSE:A093230).

The bonds will be subject to a lock up period of one year from the issuance.