Jaanh, Inc. (KOSDAQ:A221610) announced private placement of series 2 unregistered coupon non-guaranteed convertible bonds for gross proceeds of KRW 10,000,000,000 on April 23, 2020. The transaction included participation from new investor Jaanh Holdings Co., Ltd. for KRW 8,700,000,000 and existing investor Ahn Si Chan, Chief Executive Officer of the company for KRW 1,300,000,000. The bonds are fully convertible into 2,686,727 common shares of the company at conversion price of KRW 3,722 per share which represents 8.68% of the stake in the company. The conversion ratio from bonds to common shares is 100%. The conversion period starts at April 23, 2021 and ends at March 23, 2023. The maturity date of bonds is April 23, 2023. The payment date and subscription date is April 23, 2020. The bonds carried an interest rate and coupon rate of 3% each in the transaction. The transaction has been approved by the board of directors of the company.