Luxl Co., Ltd. (KOSDAQ:A033600) announced that it has received KRW 10,000,000,000 in a round of funding on August 20, 2019. The company issued series 8 unregistered coupon unguaranteed private convertible bonds in the transaction. The transaction included participation from MJ Solution Co., Ltd. The bonds will mature on August 20, 2022. The bonds do not carry any surface interest and the yield to maturity is 3% per year on unpaid bonds that have not exercised the exercise right during the exercise period. The bonds are 100% convertible at a fixed conversion price of KRW 757 per share. Upon the conversion of the bonds, the company will issue 13,210,039 common shares. The conversion period will start on August 20, 2020 and end on July 21, 2022. The transaction was approved by the board of directors of the company.