Thumbage Co., Ltd. (KOSDAQ:A208640) announced a private placement of 5th series bearer's interest-free private convertible bonds for gross proceeds of KRW 10,000,000,000 on September 26, 2019. The transaction will include participation from Baro Savings Bank for KRW 8,500,000,000, and BF Co., Ltd. for KRW 1,500,000,000. The bonds will be issued at 2% fixed coupon rate, 4% yield to maturity rate, and will mature on September 27, 2022. The bonds can be 100% converted into 1,776,198 common shares for 2,02% stake in the company at a fixed conversion price of KRW 5,630 per share. The conversion period is from September 27, 2020 to August 27, 2022. The transaction has been approved by the board of directors of the company. The subscription date is September 26, 2019, and the payment date is September 27, 2019.