Next Entertainment World Co., Ltd. (KOSDAQ:A160550) announced a private placement of third non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 20,000,000,000 on March 31, 2021. The transaction will include participation from IBCK Global Contents New Technology Business Fund. The bonds are redeemable, carry 0% interest rate, 0% yield to maturity rate, will mature on April 08, 2026, are fully convertible into 1,465,201 common shares, representing 4.99% stake in the company, at a fixed conversion price of KRW 13,650 per share from October 08, 2022 to March 08, 2026. The transaction has been approved by the board of directors of the company, and is expected to close on April 8, 2021.