KPM TECH Co., Ltd. announced a private placement to issue Series 11 Domestic Bearer Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 2,000,000,000 on May May 24, 2024. The transaction will include participation from new investors Daewoo Park for KRW 1,400,000,000, Shin Kyun I for KRW 500,000,000 and KRW Kwangwoo Choi for KRW 100,000,000. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on May 27 2024.

The bonds bear 3% coupon rate, 4% maturity rate and matures on May 27, 2027. The bonds are 100% convertible into 5,333,333 shares at a fixed conversion price of KRW 375 from May 27, 2025 to April 27, 2027.