Melfas Inc. (KOSDAQ:A096640) announced a private placement of series 6 non-guaranteed private equity convertible bonds for gross proceeds of KRW 3,000,000,000 and series 7 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 2,000,000,000 for aggregate gross proceeds of KRW 5,000,000,000 on April 12, 2021. The transaction will include participation from Wooa Co., Ltd. for series 6 and from D&S Holdings Co., Ltd. for series 7. The bonds bear an interest rate of 5%, yield to maturity of 8% and will mature on April 15, 2024. The series 6 bonds are fully convertible into 1,432,664 common shares representing 4.06% stake at a conversion price of KRW 2,094 per share from April 15, 2022 to March 15, 2024 and the series 7 bonds are fully convertible into 955,109 common shares representing 2.74% stake at a conversion price of KRW 2,094 per share from April 15, 2022 to March 15, 2024. The bonds are issued at par and are redeemable. The transaction has been approved by the board of directors of the company. The subscription date is on April 13, 2021 and the payment date is on April 15, 2021.