New Pride Corporation (KOSDAQ:A900100) announced a private placement of round 27 non-guaranteed non-guaranteed private equity convertible bonds for gross proceeds of KRW 1,000,000,000 on December 24, 2020. The transaction included participation from Inno C&D Co., Ltd. The bonds are zero coupon bonds, have a yield to maturity of 5% and will mature on December 24, 2023. The bonds are 100% convertible into 1,375,515 common shares at a conversion price of KRW 727 per share. The conversion period of the bonds starts of December 24, 2021 and ends on November 24, 2023. The transaction has been approved by the board of directors of the company. The subscription date and payment date of the transaction is on the same date.