HNT Electronics Company Ltd. (KOSDAQ:A176440) announced a private placement of 3rd series unregistered coupon secured convertible bond for gross proceeds of KRW 10,000,000,000 on December 16, 2020. The transaction will include participation from Tong Yang Moolsan Co., Ltd. (KOSE:A002900). The bond carries a fixed coupon rate of 2% per annum, 3% yield to maturity, and would mature on December 16, 2023.

The bonds can be 100% converted into 13,586,956 common shares for 15.84% stake of the company at a fixed conversion price of KRW 735 per share. The conversion period is from December 17, 2021 and December 15, 2023.