Neontech Co., Ltd. (KOSDAQ:A306620) announced a private placement to issue series 2 registered coupon non-guaranteed private convertible bond for an aggregate gross proceeds of KRW 5,000,000,000 on May 8, 2020. The transaction includes participation from new investor, Nh-Aju Kosdaq Scale-Up Fund, a fund managed by AJU IB INVESTMENT Co., Ltd. (KOSDAQ:A027360) for KRW 5,000,000,000. The bonds will mature on May 13, 2023.

The bonds carry zero coupon rate. The bonds are convertible into 2,754,820 shares at a conversion price of KRW 1,815 per share. The conversion period starts from May 13, 2021 and ends at April 13, 2023.

The transaction is expected to close on May 13, 2020. The transaction has been approved by the board of directors of the company.