HUVEXEL Co.,Ltd (XKON:A212310) announced a private placement of series 2 private convertible bonds for gross proceeds of KRW 3,000,000,000 on July 6, 2018. The transaction will involve participation from new investor Synergy Partners Co., Ltd. The bonds will be issued at par. The bonds will carry zero coupon rate and a yield to maturity of 3%. The bonds will be fully convertible into 363,416 shares of the company at a conversion price of KRW 8,255 from August 31, 2019 to July 31, 2023 and will mature on August 31, 2023. The subscription date and expected closing date of the transaction is July 6, 2018 and August 31, 2018 respectively. The transaction was approved by the board of directors of the company.