Newflex Technology Company Limited (KOSDAQ:A085670) announced a private placement of round 1 unregistered coupon private convertible bonds for gross proceeds of KRW 5,000,000,000 on February 1, 2016. The transaction will include participation from a new investor, Synergy Partners Co., Ltd. The bonds will carry yield to maturity of 2% and no coupon rate. The bonds will be issued at par.

The bonds will mature on February 4, 2021. There will be 100% conversion of bonds at fixed conversion price of KRW 2,664 per share. The conversion period will start on February 4, 2017 and end on January 4, 2021.

The subscription date for the transaction is February 3, 2016 and the payment date is February 4, 2016. The transaction has been approved by the board of directors of the company.