Gamma Nu Inc. (KOSDAQ:A192410) announced a private placement of series 2 non guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 8,000,000,000, series 3 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 3,000,000,000, and series 4 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 18,000,000,000, for aggregate gross proceeds of KRW 29,000,000,000 on February 9, 2021. The transaction will include participation from individual investors for series 2 bonds, which includes Jin Haiyan for KRW 6,000,000,000, and Chang Ko Lun and Kim Sang-ki for KRW 1,000,000,000 each, Charmzone Co., Ltd. for series 3 bonds, and Sun Asset Co., Ltd. for series 4 bonds. The bonds are redeemable, will be issued at par, will carry zero coupon rate and 3% yield to maturity rate. The series 2 bonds will mature on February 17, 2024, series 3 bonds will mature on April 20, 2024, and series 4 bonds will mature on April 30, 2024. The series 2 bonds are fully convertible into 3,258,655 shares, representing 11.52% stake, from April 30, 2022 to January 17, 2024, series 3 bonds are fully convertible into 1,221,995 shares, representing 4.32% stake, from April 30, 2022 to March 20, 2024, and series 3 bonds are fully convertible into 7,331,975 shares, representing 25.92% stake, from April 30, 2022 to March 30, 2024. The bonds bear a fixed conversion price of KRW 2,455 per share. The payment date for series 2 bonds is February 17, 2021, series 3 bonds is April 20, 2021, and series 4 bonds is April 30, 2021. The transaction has been approved by the board of directors of the company.