M-Venture Investment, Inc. (KOSDAQ:A019590) announced a private placement of 27th unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 4,600,000,000 on June 8, 2020. The coupon rate and yield to maturity is 5% per annum. The bonds will be issued at par and matures on June 10, 2025. The bonds can be 100% converted into 4,554,455 common shares for 7.57% stake of the company at a fixed conversion price of KRW 1,010 per share starting on June 10, 2021 and ending on May 10, 2025. The bonds are redeemable at any time after April 11, 2021 till maturity at a premium of 5% to par value. The expected payment date is June 10, 2020. The transaction has been approved by the board of directors of the company.

The transaction will include participation from Assam Mezzanine Focus Hedge Fund 1 Trustee, a fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 500,000,000, Dong Won Fisheries Co., Ltd. (KOSE:A030720) for KRW 200,000,000, BeAll Developers, Inc. for KRW 100,000,000, Landmark Investment Trust Management Co. for KRW 400,000,000, and 16 individual investors for KRW 3,400,000,000.