Sambon Precision & Electronics Co.,Ltd (KOSDAQ:A111870) announced a private placement to issue round 6 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 10,000,000,000 on February 17, 2021. The transaction included participation from Meritz Securities Co., Ltd., Investment Arm. The bond carry a coupon rate of 3.5% with yield to maturity 0f 5%. The maturity date of bonds is February 25, 2024. The bonds are fully convertible into 7,235,890 common shares of the company representing 6.28% stake at a conversion price of KRW 1,382 per share. The conversion period starts at February 26, 2022 and ends at February 21, 2024. The transaction has been approved by the board of directors of the company. The bonds carry a hold period of one year. The subscription date and expected closing date is on February 25, 2021.