Dayou A-Tech Co.,Ltd (KOSE:A002880) announced a private placement of series 21 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on February 17, 2021. The transaction will involve participation from Dayou AP Co.,Ltd. (KOSDAQ:A290120). The bonds have a coupon rate of 3% and yield to maturity of 6%.

The bonds will mature on February 18, 2024. The bonds are 100% convertible into 4,306,632 common shares of the company, representing 3.79% stake of the company, at a conversion price of KRW 1,161 from February 18, 2022 to February 17, 2024. The bonds have a hold period of one year from the issuance date.

The transaction is expected to close on February 18, 2021. The transaction has been approved by the board of directors of the company.