AnaPass Inc. (KOSDAQ:A123860) announced a private placement of round 6 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 2,000,000,000 and round 7 non-separated with unsecured interest bonds for gross proceeds of KRW 5,000,000,000 for aggregate gross proceeds of KRW 7,000,000,000 on January 5, 2021. The round 6 bonds will include participation from Renaissance Vasco Professional Investment Private Equity Trust for KRW 1,200,000,000, Renaissance KOSDAQ Venture Active Professional Investment Private Equity Trust for KRW 300,000,000 and Jinsoo Park for KRW 500,000,000 and the round 7 bonds will include participation from Trinity Asset Management Co.,Ltd. for KRW 500,000,000, M-Venture Investment, Inc. (KOSDAQ:A019590) for KRW 500,000,000, NJ Holdings Co., Ltd. for KRW 1,000,000,000, Ibest Investment Company Ltd. for KRW 1,000,000,000, Chulho Jang for KRW 1,000,000,000, Dooyoung Shin for KRW 500,000,000 and Jiyeon Lee for KRW 500,000,000. The bonds have coupon rate and interest rate to maturity of 0%.

The bonds will mature on January 07, 2026. The round 6 bonds are convertible into 75,460 shares at a conversion price of KRW 26,504 from January 07, 2022 to December 07, 2025 and the round 7 bonds are convertible into non-separable new stock acquisition rights which are exercisable into 188,650 common shares at an exercise price of KRW 26,504 per share from January 07, 2022 to December 07, 2025. The subscription date and payment date is January 07, 2021.

All securities issued in the transaction have a hold period of one year. The transaction has been approved by the board of directors.