Cornerstone Networks CO., LTD (KOSDAQ:A033110) announced a private placement of 21st series domestic unregistered unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 On October 10, 2019. The transaction will include participation from Weiser Asset Management. LLC from 6,000,000,000 shares, General Pacific Group Co., Ltd. for 6,000,000,000 shares, B & Networks for 8,000,000,000 shares. The bonds are issued at 2% fixed coupon rate rate, 4% yield to maturity rate, and will mature on November 11, 2022. The bonds can be 100% converted into 17,528,483 common shares for 12.28% stake of the company at a fixed conversion price of KRW 1,141 per share. All securities issue in the transaction are subject to a hold period of one year. The conversion period is from November 11, 2020 to November 10, 2022. The transaction has been approved by the board of directors of the company. The subscription date and the payment date is November 11, 2019.