Powernet Technologies Corporation (KOSDAQ:A037030) announced a private placement of series 7th unregistered unguaranteed private convertible bonds for gross proceeds of KRW 12,000,000,000 on May 28, 2019. The maturity date of bonds is May 29, 2022. The bonds are convertible into common shares at a price of KRW 5,687 per share.

The conversion period is from May 29, 2020 to April 29, 2022. The transaction will include participation from A1 A-type Mezzanine Hedge Fund, A1 B-type Mezzanine Hedge Fund, A1 A-type Convertible Hedge Fund, A1 B-type Convertible Hedge Fund for KRW 1,500,000,000, VM Platinum KOSDAQ Venture Hedge Fund for KRW 2,000,000,000, VM KOSDAQ Venture Hedge Fund 1 a fund managed by returning investor KB Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, C Square Mezzanine Plus Hedge Fund 11 a fund managed by Yen H investments securities corporation for KRW 200,000,000, C Square Mezzanine Plus Hedge Fund 12 a fund managed by Yen H investments securities corporation for KRW 300,000,000, C Square Mezzanine Plus Hedge Fund 14 a fund managed by Yen H investments securities corporation for KRW 500,000,000, SP KOSDAQ Venture Hedge Fund 1 a fund managed by Samsung Securities Co. Ltd., Investment Arm for KRW 1,500,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 2,000,000,000, Shinhan Investment Corp.

for KRW 1,000,000,000, Hana Financial Investment Co., Ltd. for KRW 1,000,000,000, DB Financial Investment Co., Ltd. (KOSE:A016610) for KRW 1,000,000,000. The transaction was approved by the board of directors of the company. The transaction is expected to close of May 29, 2019.