Miraesci Co., Ltd. (KOSDAQ:A028040) announced a private placement of 40th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 400,000,000 on May 8, 2019. The transaction included participation from individual investors Dukryung Jang, and Joongki Kwon for KRW 200,000,000 each. The bonds carried a coupon rate of 2% and have yield to maturity of 2%. The bonds are issued at par and will mature on May 8, 2022. The debentures are 100% converted into 202,224 common shares representing 0.64% stake of the company at a fixed conversion price of KRW 1,978 per share. The conversion period is from May 8, 2020 to May 8, 2022. The subscription date is May 8, 2019. The transaction has been approved by the board of directors of the company. The securities issued in the transaction is subject to lock in period of 1 year.