PCPIA BIT Co.,Ltd. announced a private placement of 1st series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 6,000,000,000 on June 27, 2018. The transaction will include participation from new investor IBK-NH Small Giant Private Equity Fund. The bonds carries a zero coupon rate of yield to maturity of 5%. The maturity date of bond is June 29, 2023. The bonds are issued at par. The bonds are fully convertible into common shares at a conversion price of KRW 5,990 per share from June 29, 2019 to June 28, 2023. The subscription date is June 27, 2018 and payment date is June 29, 2018. The transaction has been approved by the board of directors of the company.