The E&M Co., Ltd. announced a private placement of series 18 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 on May 3, 2023. The transaction will include participation from returning investor Sangsangin Savings Bank, Investment Arm. The bonds carry fixed rate of interest of 3% per annum and maturity rate of 6% per annum.

The bonds will mature on May 08, 2026 and are fully convertible into 17,064,846 shares, at a fixed conversion price of KRW 293 per share from May 8, 2024 to April 8, 2026.The transaction has been approved by the board of directors. The securities issued are subjected to one year hold period. The transaction is expected to close on May 8, 2023.