iA Networks Company Limited (KOSDAQ:A123010) announced a private placement of 1st, 2nd, 3rd and 4th series unregistered coupon unguaranteed private convertible bond for aggregate proceeds of KRW 3,624,000,000 000 on September 17, 2019. The transaction will include participation from Axent Co., Ltd. The bonds carries a fixed coupon and yield to maturity of 3% per annum. The series 1st, 2nd, and 3rd bond will mature on May 15, 2021 and will be 100% converted into 9,814,980,557 common shares at a fixed conversion price of KRW 100,000 per share. The conversion period for the bonds is from May 15, 2019 to April 15, 2021. The company will issue common shares through cash acquisition method. The transaction has been approved by the board of director of the company.