Thumbage Co., Ltd. (KOSDAQ:A208640) announced a private placement of 7th series unregistered bearer's interest-free private convertible bonds for gross proceeds of KRW 15,500,000,000 on January 14, 2020. The bonds will be issued at 5% interest rate, and will mature on January 15, 2023. The bonds can be 100% converted into 9,314,903 common shares for a 19.10% stake in the company at a fixed conversion price of KRW 1,664 per share. The conversion period is from January 15, 2021 to December 15, 2022. The transaction has been approved by the board of directors of the company. The subscription date and the payment date is January 15, 2020.