Waps Co., Ltd. (KOSDAQ:A196700) announced a private placement of round 1 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on October 13, 2015. The bonds will be issued at par. The bonds will carry zero coupon rate and yield to maturity of 2.5%.

The bonds will mature on October 15, 2019. There will be 100% conversion of bonds into the common shares of the company at a fixed conversion price of KRW 7,433 per share. The conversion period will start on October 15, 2016 and end on September 15, 2019.

The transaction will include participation from a new investor, Korean Investment Future Growth Venture Fund No. 22, a fund managed by Korea Investment Partners Co. Ltd. The subscription date and the payment date for the transaction is October 15, 2015.

The transaction has been approved by the board of directors of the company.