Cosnine Co., Ltd. (KOSDAQ:A082660) announced a private placement of series 20 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 4,000,000,000 on November 03, 2020. The transaction will include participation from Icure Pharmaceutical Incorporation (KOSDAQ:A175250) and Trevia Inc. for KRW 2,000,000,000 each. The bonds do not carry any coupon and yield to maturity of 4% and will mature on November 30, 2023.

The bonds are 100% convertible into 2,461,538 common shares representing 8.70% of the total number of shares of the company at a conversion price of KRW 1,625 per share. The conversion period of the bonds will start on November 30, 2021 and ends on October 30, 2023. The subscription date and the payment date are on November 3, 2020 and November 30, 2020.

The transaction has been approved by the board of directors of the company.