Alpha Holdings, Inc. (KOSDAQ:A117670) announced a private placement of Series 9 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 6,000,000,000 and 888,889 common shares at a price of KRW 4,500 per share for gross proceeds of KRW 4,000,000,500 for aggregate gross proceeds of KRW 10,000,000,500 on December 8, 2020. The transaction will include participation from new investor Hansongneotech Co.,Ltd. (KOSDAQ:A226440). The bonds will mature on December 24, 2023.

The bonds have a coupon rate of 1% and interest rate to maturity of 3%. The bonds are convertible into 1,192,842 shares at a conversion price of KRW 5,030 per share from December 24, 2022 to November 24, 2023. The payment date for shares is December 16, 2020 and for bonds the payment date is December 24, 2020 and subscription date is December 08, 2020.

The transaction has been approved by the board of directors. The common shares will have a hold period of one year, post the closing.