BYON Co., Ltd. (KOSDAQ:A032980) announced a private placement of 39th series non-guaranteed private equity convertible bonds for gross proceeds of KRW 8,000,000,000 on June 2, 2021. The transaction will include participation from Eugene Investment & Securities Co.,Ltd. (KOSE:A001200) for KRW 1,000,000,000, Hands Partners Co., Ltd. for KRW 2,500,000,000, BFA Co., Ltd. for KRW 1,000,000,000, Kim, Seong-min for KRW 1,500,000,000, Lee, Hyeon-seok for KRW 100,000,000, Ahn, Sang-hyeon for KRW 300,000,000, Kim, Jong-eun for KRW 200,000,000, Kim, Sang-soo for KRW 1,000,000,000, Baek, Jin-wook for KRW 200,000,000 and Hong, Sang-hyeok for KRW 200,000,000. The bonds carry 3% yield to maturity and 1% coupon rate.

The bonds will mature on June 04, 2024. The bonds are 100% convertible at fixed conversion price of KRW 1,392 per share into 5,747,126 shares. The conversion period will start on June 04, 2022 and will end on May 04, 2024.

The transaction has been approved by the board of directors of the company. The payment date is June 04, 2021. The securities to be issued will have a lock up period of one year.