The Sports Seoul Co., Ltd. (KOSDAQ:A039670) announced a private placement of 16th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,500,000,000 on August 1, 2017. The transaction will include participation from new investors, Aju Savings Bank, Investment Arm for KRW 3,000,000,000, and Eugene investment & Securities Co., Ltd., Investment Arm for proceeds of KRW 2,500,000,000. The bonds are issued at par and carry a coupon of 3% and yield to maturity of 5.5% and would mature on August 2, 2022. The bonds are fully convertible into 1,421,187 common stock of the company at a fixed conversion price of KRW 3,870 per share between the period of August 2, 2018 to July 2, 2022. The expected payment date is August 2, 2017. The transaction has been approved from board of directors of the company.