VAIV company Inc. (KOSDAQ:A301300) announced a private placement of round 1 unregistered coupon non-guaranteed private convertible bond shares for gross proceeds of KRW 30,000,000,000 on May 14, 2021. The transaction involve participation from Samsung Securities Co. Ltd., Investment Arm for KRW 9,500,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 3,300,000,000, Industrial Bank of Korea, Investment Arm and eBest Investment Securities Co., Ltd., Investment Arm for 3,000,000,000 each, Korea Investment & Securities Co., Ltd., Investment Arm fore KRW 1,000,000,000, and other investors, The transaction took take place through third party allocation. The bonds will carry nil coupon rate and nil yield to maturity, and will mature on May 18, 2026. The bonds can be fully converted into 949,667 common shares representing 17.61% stake of the company at a fixed conversion price of KRW 31,590 per share. The conversion period starts from November 18, 2022 to April 18, 2026. The securities issued in the transaction will have a hold period of 1 year. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 18, 2021.