Cornerstone Networks CO., LTD (KOSDAQ:A033110) announced that it has issued 24th series Non-guaranteed domestic private equity convertible bonds for an aggregate gross proceeds of KRW 2,000,000,000 on December 6, 2019. The bonds are issued at its par value. The transaction included participation from Red Scar for KRW 800,000,000, Alpine for KRW 600,000,000, and Kim Moonyop for KRW 600,000,000. The bonds will mature on December 6, 2022. The bonds will carry a fixed surface interest rate of 2% and maturity interest rate of 4%. The bonds are fully convertible into common stock of the company at a fixed conversion price of KRW 1,151 per share. The bonds will be convertible from December 6, 2020 to December 5, 2022. The transaction was approved by the board of directors of the company.