Jeju Semiconductor Corp. (KOSDAQ:A080220) announced a private placement of 7th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 17,500,000,000 on February 8, 2019. The transaction will include participation from Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 2,600,000,000, IBK Securities Co., Ltd. For KRW 1,000,000,000, Meritz Securities Co., Ltd. for KRW 1,000,000,000 and other investors.

The bonds will be fully convertible into 4,545,454 shares at a fixed conversion price of KRW 3,850 from February 12, 2020 to January 12, 2024. The bonds will carry no coupon rate and will mature on February 12, 2024. The payment date of the transaction is February 12, 2019.

The transaction was approved by the board of directors of the company.