BIOINFRA Inc. announced a private placement of 207,546 shares at KRW 5,300 per share for gross proceeds of KRW 1,099,993,800 and series 3 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 500,000,000, for total gross proceeds of KRW 1,599,993,800 on September 27, 2018. The shares carry a face value of KRW 500 each. The company will issue the shares via third party allotment. The transaction will include participation from new investors, Hyundai Investment Partners No.1 Venture Fund for 130,076 shares and bonds for KRW 300,000,000, Hyundai Investment Partners Co., Ltd. for 37,735 shares and bonds for KRW 100,000,000, and WM Investment Limited for 37,735 shares and bonds for KRW 100,000,000. The shares carry a lock in period of one year from the date of issuance. The bonds will mature on October 12, 2023. The bonds carry no coupon and yield to maturity of 4%. The bonds are fully convertible into 90,907 common shares of the company at a price of KRW 5,500 per share for 0.67% equity stake in the company. The exercise period of the bonds will be from October 12, 2019 to October 12, 2023. The subscription date for the bonds is October 12, 2018. The payment date for both the shares and the bonds is expected on October 12, 2018. The transaction has been approved by the board of directors of the company.