Woori Technology, Inc. (KOSDAQ:A032820) announced a private placement of series 7th domestic unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 14,500,000,000 on August 8, 2018. The bonds will be issued at par value. The transaction will include participation from new investors Eugene investment & Securities Co., Ltd., Investment Arm for KRW 6,000,000,000, eBest Investment Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, Platform Partners Smart Venture Hedge Fund 1 for KRW 2,000,000,000, and other investors. The bonds are fully convertible into 8,381,502 common shares for 8.94% stake in the company at a fixed conversion price of KRW 1,730 per share. The bonds will mature on August 10, 2022. The yield to maturity and annual fixed coupon rate for the bonds is 5% and 3% respectively. The conversion period of bonds is from August 10, 2019 to July 10, 2022. The subscription date and the payment date is on August 10, 2018. The board of directors of the company approved the transaction.