HUVEXEL Co.,Ltd. (XKON:A212310) announced a private placement of round 3 private convertible bonds for gross proceeds of KRW 500,000,000 on August 28, 2020. The transaction will include participation from returning investor T Life Co., Ltd. for KRW 300,000,000 and Sooyong Bae for KRW 200,000,000. The conversion rate of the bonds is 100%. The bonds are fully convertible into 103,382 common shares of the company at conversion price of KRW 4,815 per share which represents 2.52% of the stake in the company. The conversion period starts at August 31, 2021 and ends at July 31, 2023. The maturity date of bonds is August 31, 2023. The payment date is August 31, 2020 and subscription date is August 28, 2020. The bonds will carry an interest rate of 3% in the transaction. The transaction has been approved by the board of directors of the company. The securities to be issued will have a hold period of one year, post the closing.