Hizeaero Co., Ltd. (KOSDAQ:A221840) announced a private placement of round 1 unregistered non-couponed non-guaranteed private convertible bond for the gross proceeds of KRW 12,000,000,000 and round 2 unregistered non-coupon nonguaranteed private exchangeable bonds for gross proceeds of KRW 3,835,041,570 for aggregate proceeds of KRW 15,835,041,570 on April 28, 2021. The transaction will include participation from new investor Simone Mezzanine Hedge Fund 5. The bonds carry a 0% surface interest rate and interest rate to maturity. The bonds will mature on April 30, 2024. The round 1 bonds will convert into 2,251,407 common shares of the company, representing the stake of 12.72%, at a conversion price of KRW 5,330 per share and round 2 bonds will convert into 600,163 common shares of the company, representing the stake of 3.39%, at a conversion price of KRW 6,390 per share. The conversion period for round 1 bonds will start on April 30, 2022 and end on March 30, 2024 and for round 2 bonds will start on March 30, 2021 and end on March 30, 2024. The transaction has been approved by board of directors of the company. The bonds carry a hold period of one year. The payment date and subscription date of bonds is April 30, 2021.