ACT Co., Ltd. (KOSDAQ:A138360) announced a private placement of 3rd series unregistered coupon unguaranteed private convertible bonds for proceeds of KRW 10,000,000,000, 7,812,500 shares at a price of KRW 5,120 for proceeds of KRW 40,000,000,000, for total gross proceeds of KRW 50,000,000,000 on May 23, 2018. The transaction will include participation from Oasis Holdings Co., Ltd. for the bonds, AID Partners GP Holdings Limited for 3,906,250 shares, Sun Bio Health Global Network Co., Ltd. for 2,929,688 shares, and Platform Partners Asset Management Co., Ltd. for 976,562 shares. The bonds will be issued at par and carry a coupon rate of 3%. The bonds will have a yield to maturity of 3% and will mature on August 29, 2021. The bonds will be fully convertible into 1,703,577 shares of the company at a fixed conversion price of KRW 5,870 between the period of August 29, 2019 to May 29, 2021. The shares will be issued at a premium and through third party allotment. Post the closing, the number of shares will increase from 25,359,182 to 26,335,744. The shares will have a lock up period of one year. The subscription and payment date is May 23, 2018 and August 29, 2018 respectively for the bonds. The payment date for 976,562 shares is May 31, 2018, and for 6,835,938 shares is July 13, 2018. The transaction has been approved by the board of directors of the company.