BYON Co., Ltd. (KOSDAQ:A032980) announced a private placement of 31st unregistered unguaranteed collateralized private convertible bonds for KRW 8,000,000,000 and 4,134,366 shares at a price of KRW 1,935 per share for KRW 7,999,998,210 for the total gross proceeds of KRW 15,999,998,210 on January 26, 2018. The transaction will include participation from returning investor, W Global 1 Union. The payment date is schedule to be February 28, 2018. The bonds will mature on February 28, 2021. The bond carries zero coupon rate and yield to maturity is 3%. The bonds will be fully convertible into shares at a fixed conversion price of KRW 2,236 per share between February 28, 2019 and January 28, 2021. The debt will be convertible into 3,577,817 shares. The shares will be issue at a premium. The shares are restricted for a lock up period of one year. Post the closing of the transaction, the number of shares will increase from 36,310,552 to 40,444,918. The shares will be issue through third party allotment method. The subscription and the payment date is January 26 and February 28, 2018 respectively. The transaction has been approved by board of directors of the company.