ChunLab, Inc. (KOSDAQ:A311690) announced a private placement of Series 1 Unregistered Nonguaranteed private convertible bond for gross proceeds of KRW 30,000,000,000 on August 31, 2020. The transaction will include participation from Aion Elpis Hedge Fund for KRW 24,000,000,000 and Kiwoom-Aion Kosdaq Scale-Up Private Equity Fund for KRW 6,000,000,000. The bond carries zero coupon rate and yield to maturity of 2%. The bond will mature on September 2, 2025. The bond will be 100% convertible into 575,882 common shares of the company at price of KRW 52,094. The conversion period is from September 2, 2021 to August 2, 2025. The transaction is expected to close on September 2, 2020. The transaction has been approved by the board of directors of the company. The securities issued are subject to restriction period of one year.