Miraesci Co., Ltd. (KOSDAQ:A028040) announced a private placement of 41st series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on May 29, 2019. The transaction will include participation from existing investor Harbor Co., Ltd. The bonds carry zero coupon rate and have yield to maturity of 3%. The bonds will be issued at par and will mature on July 15, 2020. The bonds will be 100% converted into 4,889,975 common shares representing 14.63% of the company at a fixed conversion price of 2,045 per share. The conversion period is from July 15, 2020 to July 15, 2022. The payment date of the transaction is July 15, 2019. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of 1 year.