Advanced Digital Chips Inc. (KOSDAQ:A054630) announced a private placement of second series unregistered unsecured private convertible bonds for gross proceeds of KRW 1,000 million on January 14, 2016. The bonds are issued at its par value. The transaction included participation from Kim Jeong, Ju.

The bonds will mature on January 14, 2019. The bonds will have yield to maturity of 3% per annum and will not carry any coupon. The bonds will be 100% convertible into registered common shares at a fixed conversion price of KRW 2,545 per share.

The conversion period will start from January 14, 2017 and will end on December 14, 2018. The bonds will be redeemed at lump sum on the maturity date. The transaction was approved by the board of directors of the company.