Vessel Co., Ltd. (KOSDAQ:A177350) announced a private placement of round 5 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 6,000,000,000 and round 6 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 4,500,000,000 for aggregate gross proceeds of KRW 10,500,000,000 on April 27, 2021. The round 5 bonds will include participation from Hands Partners Co., Ltd. for KRW 1,800,000,000, BFA Co.,Ltd. for KRW 1,200,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,000,000,000 and returning investor Korea Securities Finance Corporation, Investment Arm for KRW 2,000,000,000 and the round 6 bonds will include participation from Baro Savings Bank. The round 5 bonds are zero coupon bonds with no yield to maturity and the round 6 bonds bear an interest rate of 1% and yield to maturity of 3.5%. The bonds are being issued at par and will mature on April 28, 2024. The round 5 bonds are fully convertible into 1,022,146 common shares representing 9.13% stake and the round 6 bonds are fully convertible into 766,609 common shares representing 6.85% stake at a conversion price of KRW 5,870 per share from April 28, 2022 to March 28, 2024. The transaction has been approved by the board of directors of the company. The bonds are subject to a hold period of 1 year. The subscription date is on the same day and the payment date is on April 28, 2021.