WooriNet, Inc. (KOSDAQ:A115440) announced a private placement of 3rd series bearer-free coupon non-guaranteed private convertible bonds private convertible bonds for gross proceeds of KRW 20,000,000,000 on December 21, 2020. The convertible bonds will be issued at par. The bonds are fully convertible into 2,136,295 common shares at a fixed conversion price of KRW 9,362 from December 22, 2021 to November 22, 2025. The bonds carry no coupon rate and will mature on December 22, 2025. The transaction was approved by the board of directors of the company. The transaction is expected to close on Dec 22, 2020. The transaction will include participation from new investor KB Securities Co., Ltd., Investment Arm.