ELK Corporation (KOSDAQ:A094190) announced a private placement of 13th series Unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on March 13, 2019. The transaction included participation from Luminus Korea Co., Ltd. The bonds carry a coupon rate of 4% and yield to maturity of 5%. The bonds will mature on March 15, 2022. The bonds are 100% convertible at fixed conversion price of KRW 859 per share into 5,820,721 shares. The conversion period will start on March 15, 2020 and will end on February 15, 2022. The transaction has been approved by the board of directors of the company. The payment date of the transaction is March 15, 2019.