Orbitech Co., Ltd. announced a private placement of series 7 bearer-bearing interest-bearing unsecured private placement convertible bonds for the gross proceeds of KRW 10,200,000,000 on May 23, 2024. The transaction will include participation from individual investor Lee Jong-eun for KRW 5,800,000,000 and Entermedia Co.,Ltd. for KRW 4,400,000,000. The bonds carry coupon rate of 0% and maturity rate of 2 % and will mature on May 31, 2027.

The bonds are fully convertible into 3,340,976 common shares at a conversion price of KRW 3,053 per share from May 31, 2025 to April 30, 2027. The transaction has been approved by the shareholders of the company and is expected to close on May 31, 2024. The bonds are restricted to a hold period for 1 year.