DNA Link, Inc. (KOSDAQ:A127120) announced a private placement of series 7 domestic unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 4,000,000,000 on December 10, 2018. The transaction will involve participation from Balancers Co., Ltd. for KRW 3,000,000,000 and Eugene Investment & Securities Co., Ltd. (KOSE:A001200) for KRW 1,000,000,000. The bonds carry a yield to maturity of 1% and will mature on December 12, 2021.

The bonds will be convertible into 881,057 shares of the company at a fixed conversion price of KRW 4,540 from December 12, 2019 to November 12, 2021. The subscription date and the expected payment date of the transaction is December 12, 2018. The transaction was approved by the board of directors of the company.