J way Co., Ltd. (KOSDAQ:A058420) announced a private placement of 3rd series unregistered coupon secured private convertible bonds for gross proceeds of KRW 2,500,000,000 and 7,945,516 common shares issued at KRW 881 per share for gross proceeds of KRW 6,999,999,596; for aggregate proceeds of KRW 9,499,999,596 on April 7, 2020. Seongbo Industry Co., Ltd. will subscribe to the bonds issued in the transaction and JH Bio No. 1 Fund will subscribe to the common shares. The shares carry a face value of KRW 500 per share and will be issued at a premium. The bonds will be issued at par and will carry a coupon and interest of 3.1% per annum. The bonds would mature on April 29, 2023. The bonds are fully convertible into 2,325,581 shares of the company at a fixed conversion price of KRW 1,075 per share between the period of April 29, 2021 to March 29, 2023. The common shares carry a lock up period of one year. The subscription and the payment date for the bonds is April 29, 2020 and the payment date for the common shares is April 29, 2020. The transaction has been approved by the board of directors of the company.