GaeaSoft Corp. (KOSDAQ:A051160) announced a private placement of series 6 unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on September 20, 2016. The transaction will include participation from rnew investors Chulho Jang for KRW 1,000,000,000, Duksoon Cho for KRW 600,000,000, and Sookja Kim for KRW 400,000,000. The bonds will mature on September 22, 2019. The bonds will carry fixed coupon of 4% per annum and yield to maturity of 4%. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 2,522 per share from September 22, 2017 to August 22, 2019. The board of directors of the company approved the transaction. The subscription and payment date is September 20, 2016.