Sincetimes Co., Ltd. (KOSDAQ:A056000) announced a private placement of series 1 unregistered coupon unguaranteed private convertible bonds for proceeds of KRW 10,000,000,000 and series 2 unregistered coupon unguaranteed private convertible bonds for proceeds of KRW 10,000,000,000, for aggregate gross proceeds of KRW 20,000,000,000 on March 13, 2020. The transaction will include participation from returning investor Earth Power Korea for series 1 bonds, and A Bell Co., Ltd. for series 2 bonds. The series 1 and series 2 bonds are redeemable, will be issued at par, bear zero coupon rate, 3% yield to maturity rate, will mature on May 8, 2023, and are fully convertible into 2,418,964 shares, representing 17.11% stake, at a fixed conversion price of KRW 4,134 per share from May 8, 2021 till April 8, 2023. The subscription date is March 16, 2020 and payment date is May 8, 2020. The transaction has been approved by the board of directors of the company.