Rorze Systems Corp. (KOSE:A071280) announced a private placement of series no.1 convertible bonds for gross proceeds of KRW 800,000,000 on September 4, 2012. The bonds carry zero annual coupon, yield to maturity of 3%, and will mature on September 4, 2016. The bonds are convertible into registered common shares of the company at conversion price of KRW 4,565 per share. The conversion period will start on September 4, 2013 and will end on September 4, 2016. The subscription date and payment date is September 5, 2012. SBI Investment Korea Co., Ltd. and Shinhan K2 Secondary Investment Association will invest KRW 400,000,000 each.

On September 5, 2012, Rorze Systems Corp. closed the transaction.