EnGIS Technologies, Inc. (KOSDAQ:A208860) announced a private placement of 8th series bearer interest free private bond for gross proceeds of KRW 7,000,000,000 on November 25, 2019. The transaction will include participation from Evest Investment Securities Co., Ltd. for KRW 1,500,000,000, NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,000,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 1,000,000,000, Hanyang Securities Co. Ltd. (KOSE:A001750) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. for KRW 1,500,000,000, and KB Securities Co.,Ltd for KRW 1,000,000,000.

The bonds do not carry any coupon and carry 4% yield to maturity. The bonds can be 100% converted into 1,152,832 common shares of the company at a fixed conversion price of KRW 6,072 per share. The conversion period is from November 27, 2020 to October 27, 2022.

The bonds will mature on November 27, 2022. The transaction is expected to close on November 27, 2019. The securities issued are subject to a hold period of one year.

The transaction has been approved by board of directors of the company.