Magicmicro Co.,Ltd (KOSDAQ:A127160) announced a private placement of series 6 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on August 29, 2019. The transaction will include participation from new investor, Midas Partners. The bonds will be issued at par and do not carry any coupon. The bonds bear an interest of 0%, yield to maturity of 4% and would mature on September 6, 2022. The bonds will be fully convertible into 1,574,803 shares of the company at a fixed conversion price of KRW 1,270 from September 6, 2020 to August 8, 2022. The subscription and the payment dates are August 29, 2019 and September 6, 2019 respectively. The transaction has been approved by the board of directors of the company.