DASAN Networks, Inc. (KOSDAQ:A039560) announced a private placement of 8th unregistered coupon unguaranteed private convertible bonds and warrant for gross proceeds of KRW 31,000,000,000 on July 16, 2019. The transaction will include participation from Rhinos Mezzanine Plus Hedge Fund for KRW 500,000,000, Rhinos KOSDAQ Venture Public Stock Hedge Fund 2 for 500,000,000, Rhinos Mezzanine Plus Hedge Fund 2 for 500,000,000, Focus H3 Super Rich Platinum KOSDAQ Venture Hedge Fund 1 and Fund 4 for 4,000,000,000, Focus TF4 Super Rich Apollo Hedge Fund 1 for 500,000,000, B&I Bristlecone Hedge Fund 1 for KRW 900,000,000, B&I Bristlecone Hedge Fund 2 for 400,000,000, B&I Bristlecone Hedge Fund 3 for 700,000,000, The Platform Mezzanine IPO Hedge Fund 1 for KRW 1,800,000,000, The Platform Mezzanine Multi Strategy Hedge Fund 2 for KRW 400,000,000, The Platform Mezzanine Multi Strategy Hedge Fund 3 for KRW 300,000,000, Hanyang Securities Co. Ltd (KOSE:A001750) for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd (KOSE:A006800) for KRW 2,000,000,000, Shinhan-Rhinos 1st New Technology Fund for KRW 2,000,000,000, Rhinos-Meritz New Technology Fund for KRW 2,000,000,000, Kiwoom-Rhinos New Technology Fund for KRW 1,000,000,000, Kiwoom -Rhinos Scale-Up New Technology Fund for KRW 2,500,000,000, Ebest-Rhinos New Technology Fund 10 for KRW 1,500,000,000, Rhinos-Hanyang New Technology Fund for KRW 1,500,000,000, Ebest –Plain Vanilla New Technology Fund 13 for KRW 500,000,000, Ebest –Plain Vanilla New Technology Fund 15 for KRW 500,000,000, Kiwoom Ion KOSDAQ Scale-Up Venture Capital Private Joint Company for KRW 5,000,000,000.

The bonds carry a coupon rate and yield to maturity of 0%.The bonds do not carry any annual coupon and will be issued at par. The bonds carry yield to maturity of 0% and will mature on July 18, 2024. The bonds are convertible into 3,160,040 common shares at a conversion price KRW 9810 per share between July 18, 2020 and June 18, 2024.

The transaction has been approved by the board of directors of the company The transaction is expected to close on July 18, 2019