Outin Futures Co., Ltd announced a private placement to issue series 2 unregistered coupon non-guaranteed private convertible bond for KRW 12,000,000,000 on April 1, 2022. The transaction will include participation from DB W Investment Association No. 3 for KRW 7,000,000,000 and Quantum Recycling Solution Co., Ltd. for KRW 5,000,000,000.

The bonds will mature on April 22, 2025. The bonds are of 2% coupon with yield to maturity of 2%. The bonds are 100% convertible into 7,075,471 common shares representing 24.30% stake at a conversion price of KRW 1,696 per share.

The conversion period will start from April 22, 2023 and ends on March 22, 2025. The transaction is expected to close on April 22, 2022. The transaction has been approved by the board of directors of the company.