NVH Korea Inc. (KOSDAQ:A067570) announced a private placement of 8th series bearer-owned coupon private equity convertible bonds for gross proceeds of KRW 11,500,000,000 on March 9, 2020. The transaction will include participation from IBK Capital Corporation for KRW 3,000,000,000, IBK Financial Group Synergy Ivy Mezzanine New Technology Association for KRW 2,000,000,000, Shinhan Investment Corp., Investment Arm for KRW 2,500,000,000, Mirae Asset Daewoo Co., Ltd for KRW 2,000,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 1,500,000,000, KB Securities Co., Ltd., Investment Arm for KRW 500,000,000. The bonds bear a coupon of 0%, yield to maturity of 1% per annum and will mature on March 11, 2025. The bonds are 100% convertible into 3,432,835 common shares representing 10.39% stake at a price of KRW 3,350 per share. The conversion period is from March 11, 2021 to February 11, 2025. The subscription and payment date is March 11, 2020. The bonds issued cannot be converted till one year from the date of issuance. The transaction has been approved by the board of directors of the company.

On April 11, 2020, the company announced that the bonds are 100% convertible into 4,273,835 common shares representing at a price of KRW 2,691 per share. The conversion period is from March 11, 2021 to February 11, 2025.

On May 11, 2020, the company announced that the bonds are 100% convertible into 4,450,464 common shares representing at a price of KRW 2,584 per share. The conversion period is from March 11, 2021 to February 11, 2025.