Wave Electronics Co., Ltd. (KOSDAQ:A095270) announced a private placement of its 9th series of unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on January 17, 2019. The transaction will include participation from Coweaver Co., Ltd. (KOSDAQ:A056360). The bonds will be issued at par value.

The bonds will mature on January 18, 2022. The fixed coupon rate of the bond is 3% and yield to maturity is 6%. The bonds will be 100% convertible into 132,450 shares at a fixed exchangeable price of KRW 22,650 from January 18, 2020 to December 18, 2021.

The subscription and payment date is January 18, 2019. The transaction was approved by board of directors of the company.