GeneMatrix Inc. (KOSDAQ:A109820) announced a private placement of 711,562 common shares at a price of KRW 3,935 for gross proceeds KRW 2,799,996,470 and series 4 unregistered coupon unguaranteed convertible bond for gross proceeds of KRW 4,200,000,000, aggregating gross proceeds of KRW 6,999,996,470 on December 5, 2018. The transaction will involve participation from Korea Investment Re-Up Fund; a fund managed by new investor Korea Investment Partners Co. Ltd. The transaction will take place through third party allotment. The common shares will have a face value of KRW 500 and will be issued at a premium. The shares will have a hold period of 1 year post issuance. Post the transaction, the number of issued common shares will increase from 15,322,910 shares to 16,034,472 shares. The bonds will be issued at par, at a coupon rate of 0.5% and yield to maturity of 3.5%. The bonds will mature on December 6, 2021 and are 100% convertible into 941,704 common shares at a conversion ratio of 6.15% and at a conversion price of KRW 4,460 per share from December 6, 2019 to November 29, 2021. The subscription date is December 5, 2018 for the bonds and the payment date is December 6, 2018 and December 13, 2018 for the bonds and shares respectively. The transaction has been approved by the board of directors of the company.