Arion Technology Inc. (KOSDAQ:A058220) announced a private placement of series 13 bearer-owned coupon private equity convertible bonds for gross proceeds of KRW 3,600,000,000 on February 26, 2020. The transaction will include participation from individual investors Lee Seung-un for gross proceeds of KRW 1,800,000,000 and Jong-gu Jung for gross proceeds of KRW 1,800,000,000. The surface and maturity rate is 0% and there is no separate interest payment date. The bonds will mature on February 26, 2023. The principal of the bond held to maturity shall be repaid at the amount of 100% of the principal on the maturity date, but less than that of the original unit. The bond will be 100% convertible into 2,447,314 shares at the price of KRW 1,471 per share. The start date of conversion claim period is February 26, 2021 and end date is January 26, 2023. The transaction has been approved by the board of directors of the company. The subscription date is February 26, 2020.