Kmw Inc. (KOSDAQ:A032500) announced a private placement of 5th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 25,000,000,000 on May 23, 2018. The transaction will involve participation from new investors including Stonebridge Growth Stepping Stone Fund, Stonebridge Young Frontier Fund for KRW 2,500,000,000 each, Alpen Route Mont Blanc 4807 Multi-Strategy Hedge Fund 1, Midas Juktoma Multi Strategy Private Investment Trust 1, EBEST Investment & Securities Co., Ltd., Nongshim Capital Co., Ltd., Mirae Asset Daewoo Co., Ltd. for KRW 2,000,000,000 each, Timefolio The Time-M. Hedge Fund for KRW 1,700,000,000 and other investors. The bonds will not carry any coupon and will have a yield to maturity of 3%.

The bonds will be convertible into 1,009,978 shares of the company at a fixed conversion price of KRW 24,753 per share between May 25, 2019 and April 25, 2022. The transaction is expected to close on May 25, 2018. The transaction has been approved by the board of directors of the company.