Vitzrosys. Co., Ltd (KOSDAQ:A054220) announced a private placement of 10th series of unguaranteed private equity convertible bonds for gross proceeds of KRW 1,000,000,000 with investor Hanchang Corporation (KOSE:A005110) on May 24, 2021. The bond will be issued at par.

The bond carry fixed coupon of 3% per annum and yield to maturity of 5% each. The bond will mature on May 25, 2024. The bond will be 100% convertible into 478,468 common shares at a fixed conversion price of KRW 2,090 per share from May 25, 2022 to April 25, 2024.

The transaction has been approved by the board of directors of the company. The subscription and payment date is May 25, 2021.