GenoFocus, Inc. (KOSDAQ:A187420) announced private placement of series 3rd unregistered nonguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 with K2 Expedio Fund on August 21, 2020. The bonds carry a surface interest rate of 0% and interest to maturity of 3%. The bonds will mature on August 24, 2025. The bonds can be 100% converted into 1,470,804 shares representing 6.65% stake at a fixed conversion price of KRW 6,799 per share from August 24, 2021 to July 24, 2025. The transaction is expected to close by August 24, 2020. The transaction has been approved by the board of directors of the company.