Carelabs Co., Ltd. (KOSDAQ:A263700) announced a private placement of round 5 non-guaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on January 5, 2021. The transaction will include participation from funds managed by, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 8,500,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 8,700,000,000 and KB Securities Co., Ltd., Investment Arm for KRW 2,800,000,000. The bonds are zero coupon bonds and will carry a yield to maturity of 1%. The bonds will mature on January 07, 2024. The bonds are fully convertible into 2,298,322 common shares, representing 11.77% of the company at a conversion price of KRW 8,702 per share. The conversion period is from January 07, 2022 to December 07, 2023. The transaction is expected to close on January 07, 2021. The transaction was approved by the board of directors of the company. The bonds are subject to prohibition of conversion and division of rights for one year from the date of issue of bonds.