DK-Lok Corporation (KOSDAQ:A105740) announced a private placement of series 3 unregistered nonguaranteed private convertible bond for an aggregate gross proceeds of KRW 20,000,000,000 on November 5, 2020. The transaction includes participation from Now Ace Partnership Fund for KRW 4,000,000,000, Hiz E Best The Current New Technology Fund 2 for KRW 5,000,000,000, Withwin Fund 63 for KRW 5,000,000,000, and Tigris-LX Equity Fund 1 for KRW 6,000,000,000. The bonds carry zero coupon rate and will mature on November 13, 2023. The bonds are fully convertible into 1,331,735 common shares of the company at a conversion price of KRW 15,018 per share. The conversion period will start from November 13, 2021 and ends on October 13, 2023. The transaction is expected to close on November 13, 2020. The transaction has been approved by the board of directors of the company.