Hanryu A.I. Center Co.,Ltd. (KOSDAQ:A222810) announced a private placement of series 10 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 500,000,000 on March 13, 2020. The transaction involved participation from returning investor MiraeING.Co.,Ltd. (KOSE:A007120). The bonds has been issued at par, carries a coupon rate of 4%, and has surface interest rate of 3%.

The bonds will mature on March 13, 2023. The bonds will be fully convertible into 786,163 shares of the company, representing a 2.60% stake in the company at a fixed conversion price of KRW 636 from March 13, 2021 to February 13, 2022. The transaction has been approved by the board of directors of the company.