PNE Solution Co., Ltd. (KOSDAQ:A131390) announced a private placement of series 1 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on April 13, 2018. The transaction will involve participation from new investors Koreit KOSDAQ Venture Private Investment Trust 1 for KRW 2,000,000,000, A1 Type A Mezzanine Private Investment Trust, A1 Type B Mezzanine Private Investment Trust, A1 Type A Convertible Private Investment Trust, A1 Type B Convertible Private Investment Trust, A1 Public Stock KODAQ Venture Private Investment Trust for KRW 1,500,000,000, Hanyang Securities Co. Ltd. (KOSE:A001750) for KRW 1,000,000,000, and another investor. The bonds will carry no coupon rate and 0% yield to maturity. The bonds will mature on April 17, 2023. The bonds issued in the transaction will be fully convertible into 309,233 shares of the company at a conversion price of KRW 16,169 from April 18, 2019 to March 17, 2023. The expected payment date and subscription date of the transaction is April 17, 2018. The transaction was approved by the board of directors of the company.

On the same date, the company announced a private placement of 2nd round unregistered coupon unguaranteed private bond with warrants for gross proceeds of KRW 5,000,000,000. The bonds carry yield to maturity of 0% and will mature on April 17, 2023. The bonds are fully convertible into common shares of the company at a fixed exercise price of KRW 16,169. The transaction is expected to close on April 17, 2018. The transaction has been approved by the board of directors of the company.