Digital EMC Co., Ltd. (KOSDAQ:A187220) announced a private placement of first unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on October 14, 2016. The round will include participation from IBK-AJU Star Seekers No.1 PEF, a fund managed by AJU IB INVESTMENT Co., Ltd. The bonds do not carry any annual coupon and will have yield to maturity of 2% per annum. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 10,391 per share from October 26, 2017 to September 26, 2019.

The bonds will be issued at par and will mature on October 26, 2019. The board of directors of the company approved the transaction. The subscription date is October 18, 2016 and payment date is October 26, 2016.