Raonsecure Co., Ltd. (KOSDAQ:A042510) announced a private placement to issue series 8 unregistered coupon non-guaranteed private convertible bonds for an aggregate gross proceeds of KRW 18,000,000,000 on August 26, 2019. The transaction includes participation from Nh-Aju Kosdaq Scale-Up Fund, a fund managed by AJU IB INVESTMENT Co., Ltd. (KOSDAQ:A027360) for KRW 5,000,000,000, Smilegate Pathfinder Fund, a fund managed by Smilegate Investment, Inc. for KRW 4,000,000,000, and Korea Investment & Securities Co., Ltd. for KRW 3,000,000,000. The bonds carry zero coupon rate.

The bonds will mature on August 28, 2022. The bonds are convertible into 6,463,196 shares at a conversion price of KRW 2,785 per shares. The conversion period starts from August 28, 2020 and ends at July 28, 2022.

The transaction is expected to close on August 28, 2019. The transaction has been approved by the board of directors of the company.