Advanced Digital Chips Inc. (KOSDAQ:A054630) announced a private placement of 5th series unregistered and unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on July 12, 2018. The transaction will include participation from new investor eBest Investment Securities Co., Ltd., Investment Arm. The bonds carry coupon rate and yield to maturity of 3%. The bonds are issued at par value. The bonds will mature on July 16, 2021. The bonds are fully convertible into common shares at a conversion price of KRW 2,150 per share of the company from July 17, 2019 to July 16, 2021. The company will issue 930,232 shares upon conversion of bonds. The subscription and payment date is July 16, 2018. The transaction has been approved by the board of directors of the company.