JNK Heaters Co., Ltd. (KOSDAQ:A126880) announced a private placement of 2nd unregistered and unsecured private convertible bonds for gross proceeds of KRW 20,000,000,000 on April 26, 2018. The transaction will include participation from Sun & Tree Venture Business Hedge Fund 1 and Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 3,000,000,000 each, GG Venture Business Hedge Fund 1, Susung KOSDAQ Venture Multi-asset Public Offering Shares Hedge Fund 2 and Focus S2 Lion Private Investment Trust 1 for KRW 2,000,000,000 each, Susung KOSDAQ Venture Multi-asset Public Offering Shares Hedge Fund and Susung KOSDAQ Venture Mezzanine Hedge Fund A,C,C-F,C-W,C-S Class for KRW 1,500,000,000 each. The bonds will be issued at par and does not carry any coupon rate. The bonds will mature on May 2, 2023. The bonds will be fully convertible into 3,816,793 shares of the company at a fixed conversion price of KRW 5,240 per share between the period of May 2, 2019 to April 2, 2023. The subscription and payment date is April 30, 2018 and May 2, 2018. The transaction has been approved by the board of directors of the company.