Mobile Appliance, Inc. (KOSDAQ:A087260) announced a private placement of 2nd unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and 3rd unregistered coupon unguaranteed private non-detachable bonds with warrants for gross proceeds of KRW 5,000,000,000 on May 17, 2017. The transaction will include participation from Axis Global Growth New Technology Fund, a fund managed by Axis Investment Co., Ltd. The 3rd unregistered coupon unguaranteed private non-detachable bonds are zero coupon bonds and the yield to maturity. 2nd unregistered coupon unguaranteed private convertible bonds are zero coupon bond will be issued at par value and will not have yield to maturity. The bonds will mature on May 19, 2022. The The warrants can be exercised to acquire 430,960 shares, bonds are 100% convertible into shares of the company at a fixed conversion price of KRW 11,602 per share. The conversion period will start from May 19, 2018 and will end on April 19, 2022. The expected date for the payment is May 19, 2017. The transaction has been approved by the board of directors of the company.