KODI CO., LTD (KOSDAQ:A080530) announced a private placement of round 15 unregistered coupon private convertible bond for gross proceeds of KRW 9,200,000,000 on December 14, 2018. The maturity date of bonds is December 18, 2021. The bonds are issued at 0% coupon rate and 3% yield to maturity.

The bonds are 100% convertible into 6,191,117 common shares at a conversion price of KRW 1,486 representing 52.19% stake in the company from December 18, 2019 to November 18, 2021. The subscription date is December 18, 2018. The payment date is December 18, 2018.

The transaction has been approved by board of directors of the company. The transaction will include participation from Wins Ltd. for KRW 2,000,000,000; Tae Kwang Corporation (KOSDAQ:A023160) for KRW 3,000,000,000; individual investors Jusun Seo for KRW 1,000,000,000, Jinyong Kang for KRW 2,000,000,000, Sangchil Shim for KRW 1,000,000,000, and Chansoo Park for KRW 200,000,000.