Soltworks Co., Ltd. (KOSDAQ:A230980) announced a private placement of 3rd series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 8,000,000,000 on March 23, 2018. The bonds will not carry any coupon and will have a yield to maturity of 3%. The bonds will be fully convertible into 2,285,714 common shares of the company at a fixed conversion price of KRW 3,500 per share between March 27, 2019 and February 27, 2023.

The transaction will include participation from new investor IBK T.S. Exit PEF, a fund managed by T.S. Investment Corporation (KOSDAQ:A246690). The subscription and payment date for the transaction is March 26, 2017 and March 27, 2018 respectively. The bonds will mature on March 27, 2023.

The transaction has been approved by the board of directors of the company.