IM Tech Inc. (KOSDAQ:A226350) announced a private placement of round 6 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on January 25, 2019. The transaction involved participation from SH Investment Broadcasting Co.,Ltd. The maturity date of the bonds is January 30, 2022. The bonds will carry no coupon and 5% yield to maturity. The bonds are 100% convertible into 2,031,144 common stock at a conversion price of KRW 1,477, representing 8.72% stake in the company from the conversion period starting from January 30, 2020 and ending on December 30, 2021. The transaction is expected to close on January 30, 2019. The transaction has been approved by board of directors of the company.