POBIS TNC CO., Ltd (KOSDAQ:A016670) announced that it has completed a private placement of 3rd series unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on September 24, 2020. The transaction included participation from new investor Wooridul Huebrain Ltd. (KOSE:A118000). The bonds are redeemable, bear fixed interest rate of 1.5% per annum, yield to maturity rate of 1.5%, will mature on September 24, 2023, and are fully convertible into 9,803,921 shares, representing 10.17% stake, at a fixed conversion price of KRW 1,020 per share from September 24, 2021 to August 24, 2023.

The transaction has been approved by the board of directors of the company.