Cayman Golden Century Wheel Group Limited (KOSDAQ:A900280) announced that it will issue series 2 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 10,000,000,000 on April 1, 2021. The transaction will include participation from Serafina New Technology Business Fund No. 1. The bonds are redeemable, carry fixed coupon rate of 4% per annum, yield to maturity rate of 6% per annum, will mature on April 15, 2024, and are fully convertible into 22,321,428 common shares, representing 12.3% stake in the company, at a fixed conversion price of KRW 448 per share from April 15, 2022 to March 15, 2023. The transaction has been approved by the board of directors of the company. The subscription date is April 5, 2021. The transaction is expected to close on April 15, 2021.