Ace Technologies Corp. (KOSDAQ:A088800) announced a private placement of 37 series unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 25,000,000,000 on August 19, 2020. The bond carries a coupon rate of 0% per annum, 2% of interest rate to maturity and would mature on August 23, 2023. The bonds can be 100% converted into 850,127 common shares for 1.90% stake of the company at a fixed conversion price of KRW 29,407 per share. The conversion period is from August 21, 2021 to July 21, 2023. The transaction is expected to close on August 21, 2020. The transaction will include participation from GVA Asset Management Co., Ltd. for 1,500,000,000, NH Hedge Co., Ltd. for KRW 2,000,000,000, Paros Asset Management Co., Ltd. for KRW 1,000,000,000, Tiger Investment Advisory Co., Ltd. for KRW 8,000,000,000, Brain Asset Management Co., Ltd. for 6,500,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, Shinhan Capital, Investment Arm, for KRW 1,000,000,000, Daesin Kang for KRW 1,000,000,000, Kyungok Park for KRW 1,000,000,000, Jinsung Kim for KRW 1,000,000,000, Seonhee Lee for KRW 1,000,000,000, Yurim Seo for KRW 500,000,000, and Yoonmi Seo for KRW 500,000,000.