STCube, Inc. (KOSDAQ:A052020) announced a private placement for gross proceeds of KRW 41,999,908,468 on April 25, 2018. The company will issue 1,074,684 convertible preferred shares at KRW 13,027 per share for gross proceeds of KRW 13,999,908,468 and 5th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 28,000,000,000. The transaction will include participation from Shinhan Investment Corp.

corporation (Lime Smart KOSDAQ Venture Capital Hedge Fund 1 for 115,145 shares, Samsung Securities Co. Ltd. corporation(Trust dealers concerned position of Timefolio The Venture-G Hedge Fund) for 109,431 shares, Mirae Asset Daewoo Co., Ltd., Investment Arm Axis Bio Venture Capital Investment Fund TS-Woori-Chungnam 11th Turnaround Fund, and Hana Bank, Investment Arm for 76,763 shares each. The bonds will mature on May 25, 2023, there will be no coupon rate, yield to maturity will be of 2%, and the fixed conversion price will be KRW 15,028 won per share which will be 100% convertible into common shares of the company.

The shares will be issued at a premium and through third party allotment method. Post the closing of the transaction, the number of shares will increase from 26,710,641 to 27,785,325. The shares will be convertible into 1,074,684 registered common stock between the period of May 26, 2019 to May 26, 2023.

The payment date is May 25, 2018. The transaction has been approved by the board of directors of the company.