GY COMMERCE Co.,Ltd. (KOSDAQ:A111820) announced a private placement of series 8 no bearer rights private convertible bonds for gross proceeds of KRW 6,600,000,000, and 20,000,000 common shares at a price of KRW 500 per share for gross proceeds of KRW 10,000,000,000, for aggregate gross proceeds of KRW 16,600,000,000 on February 6, 2020. The company will issue shares through third party allotment. The bonds transaction will include participation from Hanchang Marine Co.,Ltd. for KRW 3,300,000,000 and Hanyeon Development Co.,Ltd for KRW 3,300,000,000. The bonds bear a fixed coupon rate of 0%, yield to maturity rate of 1%, will mature on February 10, 2023, and are 100% convertible into 13,200,000 common shares at a fixed conversion price of KRW 500 per share from February 10, 2021 to January 10, 2023. The transaction has been approved by the board of directors of the company. The date of payment for bonds is February 10, 2020, and the date of payment for common shares is February 7, 2020.