Redwoods Co., Ltd. (XKON:A266170) announced a private placement of 5th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 1,050,000,000 on October 18, 2018. The bonds will be issued at par value. The transaction will include participation from existing investor, Artemis Investment Advisory Co., Ltd. The bonds will carry a 6% coupon rate and 6% yield to maturity. The bonds will mature on October 19, 2023. The bonds are fully convertible into 232,044 common shares of the company at a conversion price of KRW 4,525 per share. The conversion shares represent 9.56% stake in the company. The conversion period of the bonds will be from October 19, 2019 to September 19, 2023. The subscription date and the payment date for the bonds are expected on October 19, 2018. The transaction was approved by the board of directors of the company.