Redrover.co.,Ltd (KOSDAQ:A060300) announced a private placement of series 16 non-guaranteed unsecured privately held convertible bonds for gross proceeds of KRW 2,500,000,000 on January 27, 2020. The transaction will included participation from Cheol Woo Jang for KRW 1,000,000,000, Dong-gwan Lee for KRW 500,000,000, Joo-hwan Park for KRW 400,000,000, Dong-sun Kim and Min-seok Son for KRW 300,000,000 each. The bonds will carry a coupon rate of 2.5%, yield to maturity of 3%, and will mature on January 27, 2026. The interest payment will be maid every 3 month starting April 27, 2021 and will end on January 27, 2026. The bonds can be 100% converted into 1,282,051 common shares for 4.81% stake of the company at a fixed conversion price of KRW 1,950 per share. The conversion period is from January 27, 2022 to December 27, 2025. The transaction has been approved by the board of directors of the company. The subscription and payment date is January 27, 2021.