ACE Technologies Corp (KOSDAQ:A088800) announced a private placement of 21st series unregistered unguaranteed and unsecured private convertible bonds for gross proceeds of KRW 25,000,000,000 on May 2, 2018. The bonds bear coupon rate of 0%, yield to maturity of 1% and will mature on May 4, 2023. The bonds are 100% convertible into 5,805,852 common shares at a conversion price KRW 4,306 per share.

The conversion period is from May 4, 2019 to April 4, 2023. The transaction will include participation from NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,000,000,000, Lime Thetis Hedge Fund 2 for KRW 3,500,000,000, Lime Star KOSDAQ Venture Hedge Fund 1 for KRW 1,500,000,000 and other investors.