Dexter Studios Co., Ltd. (KOSDAQ:A206560) announced a private placement of 1st series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on April 26, 2017. The transaction included participation from returning investor AJU Good Venture Fund, a fund managed by AJU IB INVESTMENT Co., Ltd., new investors Focus Investment Co., Ltd., KTB Investment & Securities Co., Ltd., Mirae Asset Daewoo Co., and individual investors Lee, Moonjong, and Jang, Junghee for KRW 10,000,000,000, KRW 10,000,000,000, KRW 2,000,000,000, KRW 1,000,000,000, KRW 1,000,000,000, and KRW 1,000,000,000. The bonds will mature on April 28, 2022.

The bonds do not carry any coupon and have a yield to maturity rate of 2%. The bonds are fully convertible into 3,383,407 common shares at a fixed conversion price of KRW 7,389. The bonds will be convertible from April 28, 2018 to March 28, 2022.

The subscription and payment date of the transaction is April 28, 2017. The transaction has been approved by the board of directors of the company.