Vidente Co., Ltd. (KOSDAQ:A121800) announced a private placement of series 13 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 30,000,000,000 and series 14 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000, for aggregate gross proceeds of KRW 40,000,000,000 on November 6, 2020. The transaction will include participation from Cater Investment Fund for KRW 30,000,000,000 each for the series 13 bonds and returning investor BTONE CO.,Ltd for KRW 10,000,000,000 each for the series 14 bonds. The series 13 and series 14 bonds bear coupon rate of 1% and zero and yield to maturity of 1% per annum, will mature on December 22, 2023.

The series 13 bonds are 100% convertible into 4,233,102 common shares and series 14 bonds will be convertible in to 1,411,034 common shares at a conversion price of KRW 7,087 per share. The conversion period of the series 13 and series 14 bonds starts on December 22, 2021 and ends on November 22, 2023. The transaction has been approved by the board of directors of the company.

The bonds are subject to prohibition of conversion and partitioning for one year from the date of issue of bonds. The subscription is November 10, 2020 and the payment date is December 22, 2020.