Soribada Inc. (KOSDAQ:A053110) announced a private placement of 12th series unregistered and unsecured private convertible bonds for gross proceeds of KRW 1,000,000,000 with Imagine Asia Co., Ltd. on January 25, 2017. The payment date of the transaction is January 25, 2017. The bonds will mature on January 25, 2020.

The bonds carry coupon rate of 3% and yield to maturity is 5%. The bonds will be converted in common shares at a rate of KRW 1848 from January 25, 2018 to December 25, 2019.