OceanStone Corp. (XKON:A329020) announced private placement of 38,461 named repayment priority shares at a price of KRW 13,000 per share for gross proceeds of KRW 499,993,000 with new investor Aion Mercury SNI Hedge Fund 1, a fund managed by Samsung Securities Co. Ltd., Investment Arm on August 6, 2020. The shares will be issued at premium to face value of KRW 500 per share. The company may prepay the shares between August 15, 2022 and August 14, 2030. Each named repayment priority share is convertible into one common share at KRW 13,000 per share. The expected payment date is August 14, 2020. The transaction has been approved by the board of directors of the company.