Cornerstone Networks CO., LTD (KOSDAQ:A033110) announced a private placement of 20th series domestic unregistered unguaranteed private convertible bonds for gross proceeds of KRW 5,500,000,000 on June 21, 2019. The transaction will include participation from Pacific Holdings Co., Ltd. The bonds are issued at 2% fixed coupon rate rate, 4% yield to maturity rate, and will mature on June 24, 2022. The bonds can be 100% converted into 3,325,272 common shares for 2.89% stake of the company at a fixed conversion price of KRW 1,654 per share. The conversion period is from June 24, 2020 to June 23, 2022. The transaction has been approved by the board of directors of the company. The subscription date and the payment date is June 24, 2019.