Hitron Systems Inc. announced a private placement of 1,334,222 common shares at a price of KRW 7,495 per share for gross proceeds of KRW 9,999,993,890 and series 23 nonguaranteed private convertible bond with bearer interest for KRW 40,000,000,000, an aggregate of KRW 49,999,993,890 on May 20, 2021. The transaction will include participation from KPL Investment Co., Ltd. for shares while Troya Holdings Co., Ltd and Jiin Holdings Co., Ltd. for bonds of KRW 20,000,000,00 each through third-party allocation increase. The transaction has been approved by the board of directors of the company. The securities to be issued are subject to a hold period of 1 year . The bonds will carry no interest rate and interest rate to maturity of 1% and will mature on May 20, 2024. The bonds are convertible into 4,490,345 shares of the company at a conversion price of KRW 8,908 per share. The conversion period will start from May 20, 2022 and ends on April 20, 2024. The transaction is expected to close on August 20, 2021.