KPS Corporation (KOSDAQ:A256940) announced a private placement of 3rd series unregistered unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on February 10, 2020. The transaction will include participation from Weystory. The bonds are issued at 0% interest rate and yield to maturity and will mature on April 10, 2023. The bonds are 100% convertible into 186,811 common shares of the company at a conversion price of KRW 16,059 per share. The conversion period is from April 10, 2021 to March 10, 2023. The transaction has been approved by the board of directors of the company and is expected to close by April 10, 2020.