Skymoons technology, Inc. (KOSDAQ:A033790) announced private placement of series 2 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 1,300,000,000 on December 23, 2020. The transaction included participation from new investor Nord Mason Co., Ltd. (XKON:A317860) for KRW 1,000,000,000 and In-gu Lee for KRW 300,000,000. The bonds does not bear any interest and had a yield to maturity of 4% and are issued at par.

The bonds are fully convertible into 1,181,818 shares at a fixed conversion price of KRW 1,100 per share from December 23, 2021 to November 23, 2022. The bond holders may request early redemption on December 23, 2021, which is 12 months from the issue date and every three months thereafter. The bonds are not convertible for a period of one year from issuance.

The transaction is approved by the board of directors of the company.