Wave Electronics Co., Ltd. (KOSDAQ:A095270) announced a private placement of round 12 unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 8,000,000,000 on May 7, 2020. The transaction will involve participation from Sangsangin Savings Bank, Investment Arm for KRW 5,000,000,000 and Sangsangin Plus Savings Bank, Investment Arm for KRW 3,000,000,000. The bonds have a fixed coupon rate of 4% and yield to maturity of 6%. The bonds will be issued at par and will mature on May 8, 2023. The bonds are 100% convertible into 682,593 common shares of the company at fixed conversion price of KRW 11,720 per share representing 5.84% stake in the company. The conversion period will start on May 8, 2021 and will end on April 8, 2023. The transaction subscription and payment date is May 8, 2020. The transaction has been approved by the board of directors of the company.