GL Pharm Tech Corp. (KOSDAQ:A204840) announced a private placement of 3rd series registered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,000,000,000 on January 17, 2018. The transaction will involve participation from Daone Chemical Co., Ltd. and returning investor Genebiotech Co., Ltd. (KOSDAQ:A086060) for KRW 1,000,000,000 each respectively.

The bonds will carry a coupon of 2.5% and have a yield to maturity of 2.5%. The bonds will be fully convertible into 403,632 common shares of the company at a fixed conversion price of KRW 4,955 per share between January 18, 2019 and December 16, 2024. The bonds will mature on January 16, 2025.

The subscription and payment date for the bonds is August 29, 2017 and September 11, 2017 respectively. The transaction has been approved by the board of directors of the company.