SP Systems Co.,Ltd. (KOSDAQ:A317830) announced a private placement of series 1 unregistered non-guaranteed convertible bond for gross proceeds of KRW 10,000,000,000 on June 25, 2021. The transaction will include participation from new investor, Naotic Smart 6 Private Equity Joint Venture. The bonds being issued are convertible into 1,281,229 shares of the company representing 13.59% stake at a conversion price of KRW 7,805 per share starting June 29, 2022 till May 29, 2024. The payment date of the transaction is June 29, 2021. The bonds will bear a surface interest rate of 1%, maturity rate of 1% and are redeemable. The transaction has been approved by the board of directors of the company. The bonds will mature on June 29, 2024.