MiCo Ltd. (KOSDAQ:A059090) announced a private placement of series 12 bearer no warranty private convertible bonds for gross proceeds of KRW 12,500,000,000 on January 18, 2021. The transaction will include participation from Lindeman Asia Investment Fund 12, a fund managed by returning investor Lindeman Asia Investment Co., Ltd. (KOSDAQ:A277070). The bonds are redeemable, will be issued at par, bear zero coupon rate, zero yield to maturity rate, will mature on January 25, 2027, and are fully convertible into 764,619 shares of the company, representing 2.44% stake, at a fixed conversion price of KRW 16,348 per share, from January 25, 2022 to December 25, 2026.

The transaction was approved by the board of directors of the company, and is expected to close on January 25, 2021.