Enchem Co., Ltd. announced a private placement to issue 1,201,160 Class 1 convertible preferred stock at a price of KRW 84,500 per share for gross proceeds of KRW 101,498,020,000 on April 11, 2022. The shares are convertible into 1,201,160 common stock of the company at the option during the period starting from April 19, 2023 till April 18, 2032. The preferred stocks are redeemable during October 19, 2024 till April 18, 2032.

The transaction was approved by the board of directors of the company. The payment date is April 19, 2022. The securities issued shall have a hold period of one year, post the closing.

The securities are issued through third party allotment methods.