On April 17, 2018 People & Telecommunication Inc. (KOSDAQ:A054340) closed the transaction. The company announced that it has amended the terms of the transaction, it will now issue bonds for gross proceeds of KRW 6,500,000,000. The transaction will involve participation from SM Development Corporation for KRW 3,500,000,000 and individual investor Yeono Lee for KRW 3,000,000,000. The bonds will have a yield to maturity of 2% and will mature on April 17, 2021. The bonds will now be fully convertible into 2,233,676 shares of the company at a conversion price of KRW 2,910 from April 17, 2019 to March 17, 2021.