Fourth-link Inc. (KOSDAQ:A056730) announced a private placement of series 24 non-guaranteed interest-bearing private equity convertible bonds for gross proceeds of KRW 5,300,000,000 on March 17, 2021. The transaction will include participation from Allen Investment Co., Ltd. and Eco Prime 21 Co., Ltd. for KRW 2,650,000,000 each. The bonds carry a fixed 2% coupon, 5% yield to maturity, and interest will be paid quarterly on June 18, September 18, December 18 and March 18. The bonds are fully convertible into 10,600,000 shares at a conversion price of KRW 500 per share comprises 14.99% stake from March 18, 2022 to February 18, 2024. The debt maturity date is March 18, 2024. The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 18, 2021.