TPC Mechatronics Corporation (KOSDAQ:A048770) announced a private placement of series 8 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 16,000,000,000 on October 4, 2018. The transaction will include participation from new investors SP KOSDAQ Venture Hedge Fund 1 for KRW 3,000,000,000, Shinhan Investment Corp. for KRW 2,500,000,000, and GVA Fortress-A Hedge Fund for KRW 1,900,000,000, and other 16 investors. The company will issue bonds at par. The bonds will have a maturity date of October 12, 2023 and will be 100% convertible at a price of KRW 4,871 per share. The bonds will have a conversion period from October 12, 2019 to September 12, 2023, subscription date of October 8, 2018, and payment date of October 12, 2018. The transaction has been approved by the board of directors of the company.