FNC ENTERTAINMENT Co., Ltd. (KOSDAQ:A173940) announced a private placement of series 2 unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 7,000,000,000 on May 6, 2021. The transaction included participation from KDB Capital Corp. for KRW 3,000,000,000, IBK Capital Corporation for KRW 2,000,000,000, Moorim Capital Co., Ltd for KRW 1,000,000,000, TRS. Inc. for KRW 500,000,000, EVEO Research Co., Ltd. for KRW 500,000,000. The bonds have yield to maturity of 2%. The bonds will mature on May 06, 2026. The bonds will be 100% converted into 1,205,026 common shares at a fixed conversion price of KRW 5,809 per share for an equity stake of 8.39%. The conversion period is from May 06, 2022 to April 06, 2026. The subscription date and the payment date of the transaction is May 6, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.