Jcontentree corp. (KOSE:A036420) announced a private placement of 16th series non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 50,000,000,000 on November 19, 2020. The transaction will include participation from new investors, Shinhan Financial Investment Co., Ltd., Investment Arm for KRW 20,000,000,000, KB Securities Co., Ltd., Investment Arm and NH Investment & Securities Co., Ltd., Investment Arm for KRW 15,000,000,000 each. The bond is issued at 0% nominal rate, 0% maturity rate and will mature on November 27, 2023. The bonds can be 100% converted into 1,621,481 common shares for 9% stake of the company at a fixed conversion price of KRW 30,836 per share. The conversion period is from November 27, 2021 to October 27, 2023. The transaction has been approved by the board of directors of the company. The subscription date is November 19, 2020 and the payment date is November 27, 2020.