Seojin System Co., Ltd (KOSDAQ:A178320) announced a private placement of series 4 registered coupon unguaranteed private convertible bond for the proceeds of KRW 30,000,000,000 and series 5 registered coupon unguaranteed private convertible bond for the proceeds for KRW 60,000,000,000 for total gross proceeds of KRW 90,000,000,000 on March 13, 2020. The transaction will involve participation from new investors Sunflower Holdings Co., Ltd. for KRW 56,310,000,000, Rivendell Investments 2018-2 LLC for KRW 1,230,000,000, and returning investor Dong-Kyu Jeon for KRW 30,000,000,000. The series 4 bonds will mature on March 31, 2025 and series 5 bonds will mature on April 2, 2025. The bonds will carry coupon rate and yield to maturity of 2.5%. The series 4 bonds are fully convertible into 1,034,482 common shares for 5.41 % stake and series 5 bonds are fully convertible into 2,068,965 common shares for 10.26% stake in the company at KRW 29,000 per share. The conversion period for series 4 bonds will be from March 31, 2020 to February 28, 2025 and the conversion period for series 5 bonds will be from April 2, 2021 to March 2, 2025. The subscription date is March 17, 2020 and the payment date is March 31, 2020 for series 4 bonds and April 2, 2020 for series 5 bonds. The transaction has been approved by the board of directors of the company. The securities issued in the transaction has a lock in period of one year.