PanGen Biotech Inc. (KOSDAQ:A222110) announced a private placement of 2nd series unregistered unguaranteed private convertible bonds for the gross proceeds of KRW 18,000,000,000 on February 19, 2018. The transaction will include participation from Atinum High Growth Industry Fund 2018 for KRW 8,000,000,000, Atinum New Paradigm Fund for KRW 2,000,000,000, Nonghyup Bank for KRW 8,000,000,000. The bond carries zero coupon rate and yield to maturity is 1%. The bonds will mature on February 21, 2023. The subscription and payment date for the bonds February 21, 2018 respectively. The bonds will be fully convertible into shares at a fixed conversion price of KRW 17,295 per share between February 21, 2019 and January 20, 2023. The company has received approval from the board of directors.