NKMAX CO., Ltd. (KOSDAQ:A182400) announced a private placement of series 10 bearer-type unregistered coupon non-guaranteed private equity convertible bonds for gross proceeds of KRW 20,000,000,000 on May 25, 2020. The transaction will include participation from new investors investors including, SV Investment Corp. (KOSDAQ:A289080) for KRW 10,000,000,000 through its funds SV Gap-Coverage Fund 3 for KRW 4,800,000,000, SV Gap-Coverage Fund 3-1 for KRW 2,700,000,000, and SV Investment 2019 Venture Capital for KRW 2,500,000, Industrial Bank of Korea, Investment Arm for KRW 3,000,000,000, and Nongshim Capital Co., Ltd., Investment Arm for KR 2,000,000,000.

The bonds will be issued at par and zero coupon rate. The bonds will mature on May 27, 2025. The bonds are fully convertible into 1,405,777 shares at a conversion price of KRW 14,227 per share.

The conversion will start on May 27, 2021 and end on April 27, 2025. The subscription and the payment date is May 27, 2020. The transaction has been approved by the board of directors of the company.