Fusion Co.,Ltd (KOSDAQ:A195440) announced a private placement of series 8th bearer owned interest free private equity convertible bonds for proceeds of KRW 5,000,000,000, 1,515,151 common shares at a price of KRW 3,300 per share for proceeds of KRW 4,999,998,300, for total gross proceeds of KRW 9,999,998,300 on February 18, 2020. The transaction will include participation from consortium of investors including Kim Hyun Mo, Onyoung Do, and Ilhong Park for convertible bonds, new investor, Fusion Holdings Consortium 1 for shares. The shares will be issued at a premium and will be issued through third party allocation. Post the closing, the number of shares will increase from 4,135,992 to 5,651,143. The coupon rate as well as maturity interest rate is 4% per annum. The bonds will mature on June 30, 2023. The bonds are redeemable at 100% of the principal amount. The bonds are convertible at a price of KRW 4,115 and will start on June 30, 2021 and end on May 30, 2023. The shares will have a lock up period of one year. The payment date for bonds and shares is June 30, 2020 and April 29, 2020 respectively. The transaction has been approved by the board of directors of the company.