CS BEARING Co.,Ltd. (KOSDAQ:A297090) announced that it will issue series 1 non guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 and series 2 unregistered coupon non guaranteed un-detachable private bonds with warrants for the gross proceeds of KRW 10,000,000,000 on September 16, 2020. The transaction will include participation from KB Securities Co., Ltd. via Platform Smart Venture Specialized Investment Type Private Equity Investment Trust No. 5 for KRW 7,000,000,000, KB Securities Co., Ltd. via Cape KOSDAQ Venture Specialized Private Equity Investment Trust for KRW 3,000,000,000, Orion Mezzanine KOSDAQ Venture Hedge Fund 48 and GVA Mezz-V2 Hedge Fund the funds managed by Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 1,500,000,000, Orion KOSDAQ Venture Hedge Fund 48, Orion Growth-Multi KOSDAQ Venture Hedge Fund 42, Orian General Manager Plus KOSDAQ Venture Hedge Fund 45, Orion KOSDAQ Venture Hedge Fund 28, the funds managed by NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 2,500,000,000, Bnk Securities Pvt Ltd, Asset Management Arm for KRW 4,000,000,000 and Korea Investment & Securities Co., Ltd. for KRW 2,000,000,000.

The bonds will be issued at par. The bonds will bear fixed interest rate of zero coupon per annum. The bonds will mature on September 18, 2025.

The bonds are convertible into 632,390 common shares at a fixed conversion price of KRW 31,626 per share from September 18, 2021 to August 18, 2025. The expected date of payment is September 18, 2020. The transaction has been approved by the board of directors of the company.