Redrover.co.,Ltd (KOSDAQ:A060300) announced a private placement of 15th series unsecured, privately held convertible bonds for gross proceeds of KRW 1,954,000,000 on September 28, 2020. The transaction included participation from Win Asia Partners Co., Ltd. For KRW 185,000,000, Sung, Ki Ho for KRW 225,000,000, Kang, Kyung-hee for KRW 37,500,000, Yunho, Lee for KRW 75,000,000, Min, Young for KRW 56,300,000, Youngjun Park for KRW 26,300,000, Sojung Lee for KRW 26,300,000, Hwang Myung-suk for KRW 375,00,000, Younghoon Park for KRW 11,300,000, Eunkyung Kim for KRW 11,300,000, Kim Hye-kyung for KRW 7,500,000, Minjung Song for KRW 7,500,000, Lim Joo-young for KRW 37,500,000, Hann Partners for KRW 300,000,000, Han Jin-ah for KRW 100,000,000, Han Seung-hwan for KRW 100,000,000, Joonseok Kim for KRW 70,000,000, Youngsoo Choi for KRW 70,000,000, Eunkyung Kim for KRW 70,000,000, Kang Yong Lee for KRW 100,000,000, Montgomery MM Investment Partners, LLC a fund managed by Montgomery and Company for KRW 50,000,000, Jaesung Ahn for KRW 50,000,000, Gong Heejeong for KRW 200,000,000, Choi Sunmi for KRW 100,000,000, The bond is issued at 0% nominal rate, 4% maturity rate and will mature on September 29, 2023. The bonds can be 100% converted into 3,006,153 common shares for 3.76% stake of the company at a fixed conversion price of KRW 650 per share. The conversion period is from September 29, 2022 to August 30, 2023. The transaction has been approved by the board of directors of the company. The subscription date is September 29, 2020 and the payment date is September 29, 2020. The transaction is expected to close on September 29, 2020.