Hitron Systems Inc. (KOSE:A019490) announced a private placement of 16th series registered private convertible bond for gross proceeds of KRW 1,000,000,000 from KEB Hana Bank on June 25, 2018. the bond will issue at par value. The bond is issued at 4.275% coupon rate, 4.275% yield to maturity and will mature on July 27, 2019. The bonds can be 100% converted into 33,333 common shares for 0.60% stake of the company at a fixed conversion price of KRW 30,000 per share. The conversion period is from June 27, 2019 to July 26, 2019. The transaction has been approved by the board of directors of the company. The transaction is expected to close on June 27, 2018.