HANA Micron Inc. announced a private placement of series 12 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 48,000,000,000 on March 13, 2023. The transaction will include participation from Kyobo OSAT New Technology Business Fund. The bonds will carry coupon rate of 0% and yield to maturity of 2.5%.

The bonds will mature on March 15, 2053. The bonds will be fully convertible into 4,514,672 common shares at a conversion price of KRW 10,632 per share, representing 8.61% stake in the company. The conversion period is from March 15, 2024 to February 15, 2053.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 15, 2023.