New Pride Corporation (KOSDAQ:A900100) announced a private placement of round 26 non-guaranteed non-guaranteed private equity convertible bonds for gross proceeds of KRW 24,046,611,240 on March 5, 2020. The transaction included participation from new investors, CH Apparel, Inc. for KRW 7,668,316,370, CSA Apparel Company, LP for 7,954,536,710, Vision Canaan Corporation for 8,423,758,160. The bonds are zero coupon bonds and will mature on March 05, 2023. The bonds are 100% convertible into 30,133,597 common shares at a conversion price of KRW 798 per share. The conversion period of the bonds starts of March 05, 2021 and ends on February 05, 2023. The transaction has been approved by the board of directors of the company. The subscription date and payment date of the transaction is on the same date.