Carelabs Co., Ltd. (KOSDAQ:A263700) announced a private placement of round 4 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 20,000,000,000 on October 28, 2020. The transaction will include participation from new investor PSI International, Inc. The bonds will be issued at its par value. The bonds will carry both interest coupon and yield to maturity of 1%. The bonds will mature on March 15, 2024. The bonds are fully convertible into 2,375,296 common shares, representing 12.11% of the company at a conversion price of KRW 8,420 per share. The conversion period is from March 15, 2022 to February 15, 2024. The transaction is expected to close on March 15, 2021. The transaction was approved by the board of directors of the company.