Magicmicro Co.,Ltd (KOSDAQ:A127160) announced a private placement of series 8 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 500,000,000 on September 11, 2019. The transaction will include participation from new investor, The Mind Asset Co., Ltd. The bonds will be issued at par and do not carry any coupon rate. The bonds have yield to maturity of 4% and would mature on September 11, 2022. The bonds will be fully convertible into 366,300 shares of the company at a fixed conversion price of KRW 1,365 from September 11, 2020 to August 11, 2022. The securities issued are subject to a hold period of one year. The transaction has been approved by the board of directors of the company.