AD Technology Co., Ltd. (KOSDAQ:A200710) announced a private placement of third unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on August 20, 2019. The bonds will be issued at its par value. The bonds will not carry any interest or yield to maturity.

The bonds will mature on August 28, 2024. The bonds are fully convertible into registered common shares of the company at a conversion price of KRW 17,650 per share. The conversion period of the bonds will commence on August 28, 2020 and end on July 28, 2024.

The subscription date is August 22, 2019 and the payment date for the bonds are expected on August 28, 2019. The transaction included participation from Shinhan Investment Corp. for KRW 3,500,000,000, NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. for KRW 3,000,000,000 and Meritz Bee High Technology Investment Association for KRW 5,000,000,000.

The transaction also included participation from Rhinos KOSDAQ Venture Public Offering Shares Hedge Fund 2 for KRW 1,000,000,000 and Rhinos Mezzanine Plus Hedge Fund 2 for KRW 500,000,000, two funds managed by Reinos Asset Management Co., Ltd. and Mirae Asset Daewoo Co., Ltd., and NH Absolute Return Hedge Fund 1 and NH Absolute Pre IPO Mezzanine Hedge Fund 1 a fund managed by Samsung Securities Co., Ltd. and NH Investment & Securities Co., Ltd for proceeds of KRW 500,000,000 each. The transaction was approved by the board of directors of the company.