Soribada Inc. (KOSDAQ:A053110) announced a private placement of 2nd series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 on March 13, 2019. The transaction will include participation from Andy Science Growth Fund. The bonds are issued at par and carry a coupon of 3.5%. The bonds have yield to maturity of 3.5% and would mature on March 18, 2022. The bonds are fully convertible into 1,020,408 shares of the company at a fixed conversion price of KRW 14,700 between the periods of March 18, 2020 to February 18, 2022. The subscription date is March 15, 2019. The payment date is March 18, 2019. The bonds are prohibited from conversion or share split for 1 year from issuance. The transaction has been approved by the board of directors of the company.