GeumVit Corp announced that it will issue series 9 non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on January 27, 2021.The transaction will include participation from individual investors Byeong-wook Jeong for KRW 3,000,000,000, Soon-ja Seo for KRW 2,000,000,000, Jeong-min Cha for KRW 2,000,000,000, Do-mi Lee for KRW 1,000,000,000, Seon-ah Choi for KRW 1,000,000,000 and Jong-woon Moon for KRW 1,000,000,000. The notes bear a fixed rate of interest of 3% and Interest rate to maturity of 3%. The bonds will mature on February 16, 2024. The bonds are fully convertible from February 16, 2022 to January 16, 2024. The subscription date and the payment of the bonds is February 16, 2021. The transaction was approved by the board of directors of the company. On February 10, 2021, the company announced that the bonds are fully convertible to 19,607,843 shares, representing 23.6% stake in the company for KRW 510 per share.