Nature & Environment Co.,Ltd. announced a private placement of Series 11 bearer-type unsecured privately placed convertible bonds for gross proceeds of KRW 2,000,000,000 on July 17, 2023. The transaction will include participation from existing investor, Data Technology Co.,Ltd. The debentures have surface interest rate of 0% and maturity interest rate 5%. The debentures maturity date is July 19, 2026.

The surface interest rate of this convertible bond is 0% and no interest is paid prior to maturity. The debentures will convert to 1,433,691 shares at a price of KRW 1,395. The conversion claim period start from July 19, 2024 and ends on June 19, 2026.

The transaction has been approved by the board of directors. The transaction is expected to close on July 19, 2023.