Signet EV Inc. (XKON:A260870) announced a private placement of 6th series unregistered coupon unguaranteed, and unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on June 19, 2018. The transaction will include participation from Industrial Bank of Korea, Investment Arm for KRW 10,000,000,000. The bonds will not carry any coupon and yield to maturity of 2%. The bond would mature on June 19, 2023. The bonds are convertible into 651,168 common shares of the company at a conversion price of KRW 15,357 per share. The bonds carry lock up period of 1 year from the date of issuance. The conversion will start on June 19, 2019 and end on June 18, 2023. The transaction has been approved by the board of directors of the company.