GL Pharm Tech Corp. (KOSDAQ:A204840) announced a private placement of 2nd series registered coupon unguaranteed private convertible bond for gross proceeds of KRW 7,000,000,000 on August 25, 2017. The transaction will involve participation from new investors IBKC-SBI Bio Fund No.

1, a fund managed by SBI Investment Korea Co., Ltd. (KOSDAQ:A019550) for KRW 3,000,000,000, MAGNA Investment Co., Ltd. for KRW 3,000,000,000, KB PreIPO Secondary Investment Fund 1 for KRW 700,000,000, and KB Investment Co., Ltd. for KRW 300,000,000. The bonds will carry a coupon of 3% and have a yield to maturity of 3%. The bonds will be fully convertible into 2,522,522 common shares of the company at a fixed conversion price of KRW 2,775 per share between September 11, 2018 and August 10, 2022.

The bonds will mature on September 10, 2022. The subscription and payment date for the bonds is August 29, 2017 and September 11, 2017 respectively. The transaction has been approved by the board of directors of the company.