Semicon Light Co., Ltd. (KOSDAQ:A214310) announced a private placement of series 5 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on July 1, 2019. The transaction will include participation from Fusion Consortium 1. The bonds have a fixed coupon rate of 4% per annum and yield to maturity of 4%. The bonds will mature on September 28, 2022.

The bonds are 100% convertible into 8,865,248 common shares of the company at a price of KRW 1,128 per share. The conversion period for bonds is from September 28, 2020 to August 28, 2022. The transaction is expected to close on September 28, 2019.

The transaction has been approved by the board of directors of the company.