Incon Co., Ltd. (KOSDAQ:A083640) announced a private placement of round 8 series unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on April 28, 2020. The bonds will be issued at par value. The transaction will involve participation from new investor, Mirae Industry Co., Ltd. for KRW 2,000,000,000. The bonds will carry a coupon rate of 1%. The bonds will be fully convertible into 1,657,000 shares of the company at a fixed conversion price of KRW 1,207 per share amounting to 2.02% stake in the company between April 28, 2021 and March 28, 2023, and will mature on April 28, 2023. The bonds will be subject to prohibition of conversion for 1 year and can be redeemed before maturity at 100% of the exemption amount. The subscription and payment date is April 28, 2020. The transaction has been approved by the board of directors of the company.