GaeaSoft Corp. (KOSDAQ:A051160) announced a private placement of series 8 non-guaranteed private convertible bonds for the gross proceeds of KRW 10,000,000,000 on September 29, 2020. The transaction will include participation from Korea Investment Innovative Growth Scale-up PEF, a fund managed by Korea Investment Partners Co. Ltd. The bonds will mature on October 8, 2025. The bonds does not carry any coupon. The bonds will be 100% convertible into 738,934 common shares of the company at a fixed conversion price of KRW 13,533 per share from October 8, 2021 to October 8, 2025. The transaction has been approved by the board of directors of the company. The payment date is October 8, 2020.