Liveplex Co.,Ltd. (KOSDAQ:A050120) announced a private placement of 4th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 36,600,000,000 and 5th series unsecured private convertible debentures for gross proceeds of KRW 5,000,000,000 for total gross proceeds of KRW 41,600,000,000 on July 11, 2019. The 4th series bonds will include participation from new investors Sangsangin Investment & Securities Co., Ltd. (KOSE:A001290) for KRW 33,000,000,000, Virtualtek Corp (KOSDAQ:A036620) for KRW 3,000,000,000, Joohoon Ahn for KRW 300,000,000, and Hyunki Ryu for KRW 300,000,000. The series 4 bonds will bear a coupon rate of 4% and yield to maturity of 4% per annum.

The bonds will mature on July 12, 2022. The bonds will be fully convertible into 42,807,017 common shares representing 23.23% stake in the company at a fixed conversion price of KRW 855 per share from July 12, 2020 to July 11, 2022. The 5th series unsecured private convertible debentures are issued to Weed Wien investments.

The 4th series unregistered coupon unguaranteed private convertible bonds will be issued at par. The nominal interest rate on 5th series unsecured private convertible debentures is 4% and maturity interest rate is 4%. The 5th series unsecured private convertible debentures date of maturity is July 23, 2022.

The 5th series unsecured private convertible debentures are fully convertible at a conversion value of KRW 855. The 5th series unsecured private convertible debentures are convertible into 5,847,953 common shares for 6.85% stake of the company. The conversion period for 5th series unsecured private convertible debentures starts on July 23, 2020 and ends on July 22, 2022.

The payment date of the 5th series unsecured private convertible debentures is July 23, 2019. The payment date of 4th series unregistered coupon unguaranteed private convertible debentures is July 12, 2019. The 5th series unsecured private convertible debentures have a hold period of one year from the closing of the transaction.

The transaction has been approved by the board of directors of the company.