Sapphire Technology Co., Ltd. (KOSDAQ:A123260) announced a private placement of 9th registered coupon unguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 on May 24, 2018. The transaction will include participation from new investor The Asia Business Daily Co., Ltd. (KOSDAQ:A127710). The bonds will be issued at par value.

The bonds will bear a fixed interest rate of 3% per annum and yield to maturity of 5% per annum. The bonds will mature on May 24, 2021. The bonds are convertible into 5,666,762 shares of the company at a fixed conversion price of KRW 2,647 per share.

The conversion period will start on May 24, 2019 and will end on April 24, 2021. The transaction subscription and payment date is May 24, 2018. The transaction has been approved by the board of directors of the company.

All securities issued restricted from conversion or stock split for 1 year.