Park Systems Corp. (KOSDAQ:A140860) announced a private placement of 1st series unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on November 13, 2020. The transaction will include participation from Kiwoom Private Equity Ant Man PEF for KRW 15,000,000,000 and Kiwoom Aion KOSDAQ scale-up startup ventures PEF for KRW 5,000,000,000. The bonds are issued at 0% coupon rate, 0% interest rate to maturity and will mature on November 20, 2025. The bonds can be 100% converted into 297,796 common shares for 4.47% stake of the company at a fixed conversion price of KRW 67,160 per share. The conversion period is from November 21, 2021 to October 20, 2025. The transaction has been approved by the board of directors of the company. The payment date is November 20, 2020.