Imagine Asia Co., Ltd. (KOSDAQ:A036260) announced a private placement of series 18 unregistered coupon unsecured convertible bonds for gross proceeds of KRW 6,000,000,000 on September 3, 2018. The transaction will involve participation from new investors, Badam Co., Ltd. and THC Encess Co., Ltd. for KRW 3,000,000,000 each. The bonds will be issued at par and will mature on October 22, 2021. The bonds will carry no coupon and yield to maturity of 3% per annum. The bonds are 100% convertible into 2,400,000 common shares for 6.3% stake in the company at a fixed conversion price of KRW 2,500 per share and will be convertible from October 22, 2019 to September 22, 2021. The subscription date of the transaction is September 3, 2018. The transaction is expected to close on October 22, 2018.