Arion Technology Inc. (KOSDAQ:A058220) announced a private placement of series 9 Weapon Myeong-sik unregistered coupon unguaranteed unsecured private convertible debentures for gross proceeds of KRW 5,000,000,000 on April 24, 2019. The transaction included participation from Cosmos Sky Associates. The nominal interest rate and maturity interest rate is 6% each on the debentures. The date of maturity of debentures is April 24, 2022. The debentures are fully convertible into 5,440,696 common shares at a price of KRW 919 per share for 5.67% stake in the company. The conversion period starts from April 24, 2020 and ends on March 24, 2022. The transaction has been approved by the board of directors of the company.