TERRASEM Co., Ltd. (KOSDAQ:A182690) announced a private placement of 10th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 and 11th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 18,000,000,000, for aggregate gross proceeds of KRW 23,000,000,000 on March 6, 2020. The 10th series bonds will include participation from returning investor Baeyang Energy Co., Ltd., and 11th series bonds will include participation from Aegis Invest Co., Ltd., Easy Partners Co., Ltd., and Easy Corporation Limited for KRW 6,000,000,000 each. The bonds carry no interest, will bear yield to maturity rate of 4% per annum, and are 100% convertible at a fixed conversion price of KRW 2,072 per share. The 10th series bonds and 11th series bonds will mature on June 15, 2023 and June 30, 2023, respectively. The 10th series bonds are convertible into 2,413,127 shares, representing 10.24% stake, and the 11th series bonds are convertible into 8,687,258 shares, representing 29.1% stake in the company. The conversion period for 10th series bonds is from June 15, 2021 to May 14, 2023 and for 11th series bonds is from June 30, 2021 to May 29, 2023. The transaction has been approved by the board of directors of the company. The payment date for 10th series bonds is June 15, 2020 and 11th series bonds is June 30, 2020.