Haesung Optics Co., Ltd. (KOSDAQ:A076610) announced a private placement to issue series 7 non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000, series 8 non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 series 9 non-guaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000, 9,398,496 shares of par value KRW 500 at a price of KRW 1,596 for gross proceeds of KRW 14,999,999,616, for aggregate proceeds of KRW 54,999,999,616 on July 9, 2020. The transaction will include participation from Boldrich Asia No. 1 Union for series 7 bonds and S Partners Investment Association for series 8 bonds, new investors Phillip Consulting Co., Ltd. for series 9 bonds and Exovia Ltd for shares. The bonds carry fixed coupon rate of 2% per annum and interest rate of 3% per annum. The series 7 bonds will expire on July 31, 2025, series 8 bonds will expire on August 8, 2025, series 9 will expire on September 7, 2025. The series 7 bonds are fully convertible into 5,577,244 shares of the company at a fixed conversion price of KRW 1,793 per share from July 31, 2021 to June 30, 2025. The series 8 bonds are fully convertible into 5,577,244 shares of the company at a fixed conversion price of KRW 1,793 per share from August 8, 2021 to July 7, 2025 and series 9 will be convertible into 11,154,489 shares of the company at a fixed conversion price of KRW 1,793 between the period of September 7, 2021 to August 7, 2025. The subscription date for series 7 and series 8 bonds, series 9 is July 13, 2020. The funding from series 7 bonds is expected to be received on July 31, 2020 and funding from series 8 bonds is expected to be received on August 7, 2020 and for series 9 is expected on September 7, 2020 and for shares on September 7, 2020. The transaction has been approved by the board of directors of the company. The shares have a lock up period of one year.