Sapphire Technology Co., Ltd (KOSDAQ:A123260) announced that it will issue 10th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 4,000,000,000 on August 24, 2018. The transaction will include participation from Luminus Investment Advisory. The bonds will bear interest of 2% and yield to maturity of 4% and matures on August 30, 2021. The bonds are convertible into 1,718,213 shares representing 6.8% stake at a price of KRW 2,328 per share. The conversion period will start from August 30, 2019 to July 30, 2021. The subscription date is August 28, 2018 and payment date is August 30, 2018. The transaction has been approved by the board of directors of the company.