Theragen Etex Co.,Ltd. (KOSDAQ:A066700) announced a private placement of seventh unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 10,650,000,000 on February 22, 2016. The securities will be issued at par. The bonds will mature on February 23, 2019.

The bonds will have a fixed annual coupon of 1% and yield to maturity of 3% with lump-sum redemption of principal on maturity date for the bonds. The bonds will have a 100% conversion rate and will be convertible into common shares of the company at a fixed conversion price of KRW 6,548 per share. The conversion period will be from February 23, 2017 to January 23, 2019.

Moon-Bum, Choi will subscribe bonds for KRW 700,000,000. Yong-hyun, Kim, Sun-Jin, Choi, Myung-Woon, Cha, Hoon-Kyu, Lee, and Byung-Cheol, Choi each will subscribe bonds for KRW 500,000,000. Remnant church and Jong-Dae, Shin will subscribe bonds for KRW 400,000,000 respectively.

The round will include participation from other investors. The subscription and payment date is February 23, 2016. The transaction was approved by the board of directors of the company.