Enchem Co., Ltd. announced a private placement of series 11 domestic private unregistered coupon unguaranteed convertible bond for a gross proceeds of KRW 31,500,000,000 on May 9, 2023. The transaction will include participation from Fund 1 for KRW 1,000,000,000; Fund 2 for KRW 1,000,000,000; Fund 3,4,5,6,7 for KRW 2,500,000,000; Fund 8 for KRW 4,000,000,000; Fund 9 for KRW 1,000,000,000; Fund 10,11 for KRW 1,000,000,000; Allswell Co.,Ltd for KRW 2,000,000,000; Woori Investment Bank Co., Ltd., Investment Arm for KRW 2,000,000,000; Hanyang Securities Co., Ltd., Investment Arm for KRW 3,000,000,000; eBest Investment Securities Co., Ltd., Investment Arm for KRW 2,000,000,000; IBK Capital Corporation for KRW 5,000,000,000; NH Investment & Securities Co., Ltd. for KRW 4,000,000,000; Korea Investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000. The bonds have yield to maturity of 5%. The bonds will be 100% converted into 429,711 common shares at a fixed conversion price of KRW 73,305 per share for an equity stake of 2.7%. The conversion period is from May 11, 2024 to April 11, 2028. The payment date of the transaction is May 11, 2023. 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.

On December 12, 2023, the conversion price of Series 11 convertible bond changed from KRW 73,305 to KRW 72,603 with the convertible shares of 429,711 shares to 433,866 shares.