Seojin Automotive Co.,Ltd. (KOSDAQ:A122690) announced a private placement of 3rd series unregistered coupon unguaranteed private placement exchangeable bonds for gross proceeds of KRW 8,000,000,000 on June 21, 2018. The transaction will include participation from QCP SME Growth 2013 PEF, a fund managed by Q Capital Partners Co., Ltd. (KOSDAQ:A016600). The bond is issued at 1% coupon rate, 3% yield to maturity and will mature on June 22, 2023.

The bonds can be 100% converted into 4,576,659 common shares for 17.83% stake of the company at a fixed conversion price of KRW 1,748 per share. The conversion period is from June 22, 2019 to May 22, 2023. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on June 22, 2018.