Playwith, Inc. (KOSDAQ:A023770) announced a private placement of 12th unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on July 22, 2015. The transaction will involve participation from Sherman Oaks Co., Ltd. for KRW 1,200,000,000, Chaminade Co., Ltd. for KRW 600,000,000, Hak-Seok Seo for KRW 500,000,000, Jin-Ho Kim for KRW 300,000,000, Kimco Asset Co., Ltd. for KRW 200,000,000, and Young-Min Kim for KRW 200,000,000.The bonds will carry yield to maturity of 3% and a fixed coupon rate of 1% per annum. The bonds will mature on July 23, 2018.

The bonds will be convertible into common shares at a fixed conversion price of KRW 10,519 per share at 100% conversion rate. The conversion period will start from July 23, 2016 and end on June 23, 2018. All securities will be issued at its par value.