exax Inc. (KOSDAQ:A060230) announced a private placement of weapon myeong-sik 18th unsecured unregistered unguaranteed private convertible bonds for gross proceeds of KRW 1,500,000,000 442,477 shares at a price of KRW 1,130 for gross proceeds of KRW 499,999,010 on January 23, 2018. . The transaction will involve participation from Jung, Jibhoon, CEO of the company. The shares will be issued at a premium and through third party allotment method. The securities issued are subject to 1 year hold period. The payment date is January 31, 2018. The convertible bonds carry a fixed coupon rate of 5% and maturity date of February 2, 2021. The bonds are convertible at a fixed conversion price of KRW 1,265 per share, convertible into 1,185,770 shares. The transaction has been approved by the board of directors of the company.