Soribada Inc. (KOSDAQ:A053110) announced that a private placement of series 19 domestic private non-guaranteed bearer convertible bonds for gross proceeds of KRW 2,500,000,000 on September 3, 2019. The transaction included participation from existing investor J.Mason.Inc. The bonds caary a fixed surface interest rate of 5% and maturity interest rate of 5%. The bonds will mature on September 3, 2022. The bonds are fully convertible into 3,048,780 common shares at a fixed conversion price of KRW 820 per share. The conversion period will start on September 3, 2020 and will end on August 3, 2022. The transaction has been approved by the board of directors of the company.