Luxl Co., Ltd. (KOSDAQ:A033600) announced a private placement of KRW 30,000,000,000 round seven unregistered coupon unguaranteed private convertible bonds on July 25, 2019. The transaction will include participation from Inviti Co., Ltd for KRW 30,000,000,000. The bonds will carry a coupon rate of 5% and yield to maturity of 7%. The bonds will mature on July 25, 2022. The bonds are 100% convertible into 38,022,813 shares at a conversion price of KRW 789 per share representing 141.03% stake of the company. The conversion period starts from July 25, 2020 and ends on June 25, 2022. The bonds have a subscription date and payment date of August 19, 2019. The transaction has been approved by the company’s board of the directors.