COSON Co., Ltd. (KOSDAQ:A069110) announced that it has completed a private placement of series 14 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 11,000,000,000 on August 7, 2020. The transaction will involve participation from Baytree Co., Ltd for KRW 4,000,000,000 and individual investors Kim, Gun-su, Kim, Hye-suk, Hwang, Hyun each for KRW 2,000,000,000, Ahn, Gwang-deok and Lee, Kyung-hee each for KRW 500,000,000. The bonds will be fully convertible into 2,350,427 shares of the company at a fixed conversion price of KRW 4,680 for 11.17% stake from August 7, 2021 to July 7, 2024. The bonds will carry no coupon rate and will have an interest to maturity of 1%. The bonds will mature on August 7, 2024. The subscription date is August 7, 2020. The securities issued in the transaction are subject to hold period of one year. The transaction was approved by the board of directors of the company.