UCI Co.,Ltd. (KOSDAQ:A038340) announced a private placement of series 27 bearer unregistered unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on March 3, 2020. The transaction included participation from Pacific Invest Fund for KRW 5,200,000,000, Ivy Invest Fund for KRW 4,800,000,000, SKbioland Co., Ltd. (KOSDAQ:A052260) for KRW 2,000,000,000, Jinyoung Im for KRW 2,000,000,000, Youngil Ko for KRW 2,000,000,000, Yongwoo Kim for KRW 2,000,000,000, L&K Investment Co., Ltd. for KRW 1,600,000,000, Youngpil Kim for KRW 200,000,000, Sungho Kim for KRW 200,000,000. The bond carry zero coupon rate and have yield to maturity of 2%.

The bonds are issued at par and will mature on March 3, 2023. The bonds will be 100% converted into 5,369,127 common shares representing 13.96% of the total shares of the company at a fixed conversion price of KRW 3,723 per share. The conversion period is from March 3, 2021 to February 3, 2023.

The payment date of the transaction is March 3, 2020. The transaction has been approved by the board of directors of the company.