ICH Co., Ltd. announced a private placement of series 1 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 20,000,000 on February 3, 2023. The transaction will include participation from Mirae Asset Securities Co. Ltd. for KRW 2,000,000,000, KB Securities Co., Ltd. for KRW 9,700,000,000, Samsung Securities Co., Ltd. for KRW 2,500,000,000, SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 500,000,000, Korea Investment & Securities Co., Ltd. for KRW 1,000,000,000, Ace Susung New Technology Fund 16 for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. for KRW 1,300,000,000, Synergy Investment Advisory Co., Ltd. for KRW 1,000,000,000 and Synergy Scale-up New Technology Business Fund 4 for KRW 1,000,00,000.

The bonds will carry a coupon rate of 0% and yield to maturity of 1% and will mature on February 7, 2026. The bonds are fully convertible into 2,727,768 common shares at a conversion price of KRW 7,332 per share from February 7, 2024 to January 07, 2026. The transaction has been approved by shareholders of the company.

The transaction is expected to close on February 7, 2023.