Sapphire Technology Co., Ltd. (KOSDAQ:A123260) announced a private placement of 8th unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,000,000,000 on May 31, 2017. The transaction will include participation from new investor Aju Savings Bank, Investment Arm. The bonds will be issued at par value. The bonds will bear a fixed interest rate of 2% per annum and yield to maturity of 9.5% per annum. The bonds will mature on June 1, 2020. The bonds are convertible into 828,157 shares of the company at a fixed conversion price of KRW 2,415 per share. The conversion period will start on June 1, 2018 and will end on May 1, 2020. The transaction subscription and payment date is June 1, 2017. The transaction has been approved by the board of directors of the company.