BINEX Co., Ltd. (KOSDAQ:A053030) announced private placement of series 6 non-guaranteed private equity exchange bonds for gross proceeds of KRW 12,000,000,000 and series 5th non-guaranteed private equity convertible bond for the gross proceeds of KRW 38,000,000,000 on September 28, 2020. The transaction will include participation from new investors Kiwoom Securities Co., Ltd. (KOSE:A039490) for KRW 2,000,000,000, Kiwoom Private Equity Aju First New Technology Business Investment Association, a fund co-managed by Kiwoom Private Equity, Inc. and existing investor Aju IB Investment Co., Ltd. (KOSDAQ:A027360) for KRW 10,000,000,000. The series 6 non-guaranteed private equity exchange bonds will be issued at par and does not bears any interest.

The series 6 non-guaranteed private equity exchange bonds will mature on October 6, 2025 and is redeemable at par on certain dates. The series 6 non-guaranteed private equity exchange bonds are convertible into 387,722 shares representing 1.21% stake in the company, at a fixed conversion price of KRW 30,950 per share starting from April 6, 2021 and ending on September 6, 2025. The expected payment date is October 6, 2020.

The transaction has been approved by the board of directors of the company.