Hwashin Tech Co., Ltd. (KOSDAQ:A086250) announced private placement of series 11 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on December 26, 2019. The transaction involved participation from Innowise Korea Co., Ltd. The bond carries an interest rate and maturity interest rate of 5%. The bonds will mature on April 09, 2023. The bonds are issued at par. The bonds are fully converted into 6,355,258 common shares, representing 31.90% stake of the company at a conversion price of KRW 3,147 per share between April 09, 2021 to March 09, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to closed on April 09, 2020.