ICK Co., Ltd. (KOSDAQ:A068940) announced a private placement of 11th non-guaranteed, non-separable private equity bonds with underwriting rights for gross proceeds of KRW 8,500,000,000 on May 4, 2021. The bond does not carry an interest rate and carries yield to maturity if 1%. The bond will mature on May 7, 2024. The transaction will include participation from new investors KOSDAQ Venture Hedge Fund 1 for KRW 1,000,000,000, SP KOSDAQ Venture Hedge Fund 3 for KRW 1,000,000,000, NH Absolute Triton Hedge Fund 1 and NH Absolute Mezzanine Hedge Fund 1 for KRW 2,000,000,000, Orion KOSDAQ Venture Hedge Fund 40 and Orion Growth-Multi KOSDAQ Venture Hedge Fund 42 for KRW 1,000,000,000, Hanyang Securities Co. Ltd. for KRW 1,000,000,000, Kiwoom Securities Co., Ltd. for KRW 500,000,000 and Shinhan Financial Investment Co., Ltd for KRW 2,000,000,000. The debentures are 100% convertible into 2,246,300 common shares at a price of KRW 3,784 per share. The conversion period starts from May 7, 2022 to April 7, 2024. The subscription date is May 4, 2021 and payment date is May 7, 2021. The transaction was approved by board of directors of the company.