Organic Tea Cosmetics Holdings Company Limited announced a private placement of series 1 overseas registered non-guaranteed private placement convertible bonds for gross proceeds KRW 24,704,000,000 and 7,486,060 common shares at a price of KRW 1,650 for gross proceeds of KRW 12,351,999,000 for aggregate gross proceeds of KRW 37,055,999,000 on April 24, 2020. The transaction will include participation from H and P International Holding Limited for bonds of KRW 12,352,000,000 and from UF Healthy Pharm Holdings Co. Ltd. for bonds of KRW 12,352,000,000 and SANSAGE CAPITAL CO., LIMITED for shares of KRW 12,351,999,000. The bond will mature on May 14, 2023 and have a coupon rate of 1%. The bonds are convertible into 14,972,120 shares at an issue price of KRW 1,650 from May 14, 2021 to May 14, 2023. The transaction is expected to close on May 14, 2020. The transaction has been approved by the board of directors. The company will issue shares through a third party allotment which will be subject to a lock-up period of 1 year from the date of issuance. The total number of issued shares in the company are 56,925,000.