Telcon Co., Ltd. (KOSDAQ:A200230) announced a private placement of 12th series unregistered coupon unsecured and unguaranteed convertible bonds for gross proceeds of KRW 7,000,000,000 in funding on May 10, 2018. The transaction included participation from KPM TECH Co., Ltd. (KOSDAQ:A042040). The bonds are issued at par and carry a coupon of 5%.

The bonds have yield to maturity of 5% and would mature on May 10, 2021. The bonds are fully convertible into 517,981 shares of the company at a fixed conversion price of KRW 13,514 between the periods of May 10, 2019 to April 10, 2021. The subscription date is May 10, 2018.

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