Green Cross Cell corporation (KOSDAQ:A031390) announced a private placement of series 5 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 60,000,000,000 on November 20, 2017. The transaction will involve participation from Polaris 7th Startup Venture Specialized PEF for KRW 15,000,000,000, Kiwoom Securities Co., Ltd. (KOSE:A039490) for KRW 10,000,000,000, Synergy Bio Optimum New Technology Fund 1 for KRW 6,000,000,000 along with other investors. The transaction is expected to close on November 29, 2017. The bonds will be fully convertible into 1,366,738 common shares of the company at a conversion price of KRW 43,900 from November 29, 2018 to October 29, 2022. The bonds will mature on November 29, 2022. The bonds will not carry any coupon rate and yield to maturity. The shares are restricted to a subject period of one year. The transaction was approved by the board of directors of the company.