WIZ CORP, Inc. (KOSDAQ:A038620) announced a private placement of round 1 non-guaranteed private equity convertible bonds for gross proceeds of KRW 3,400,000,000 on July 20, 2020. The transaction will include participation from new investors MAKUS, Inc. (KOSDAQ:A093520) for KRW 1,900,000,000 and Justin Investment Co.,Ltd. for KRW 1,500,000,000. The surface interest rate and interest rate would be 2%. The interest payment date are July 22, 2021, July 22, 2022, July 22, 2023, July 22, 2024, and July 22, 2025. The bond will be converted into 2,972,027 shares at the conversion price of KRW 1,144. The conversion period will start from July 22, 2021 to June 22, 2025. The transaction has been approved by the board of directors of the company. The subscription date and payment date would be July 22, 2020.