Alpha Holdings, Inc. (KOSDAQ:A117670) announced a private placement of round 11 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 on April 27, 2021. The transaction will include participation from new investor Human N, Inc. (KOSDAQ:A032860). The bonds will mature on April 28, 2024.

The bonds have a coupon rate of 1% and interest rate to maturity of 3%. The bonds are convertible into 1,059,322 shares at a conversion price of KRW 4,720 per share from April 28, 2022 till March 28, 2024. The payment date for shares is April 28, 2021.

The transaction has been approved by the board of directors. The bonds will have a hold period of one year, post the closing.