OncoQuest Pharmaceuticals Inc. (KOSDAQ:A078590) announced a private placement of series 11 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 and series 10 private convertible bond for gross proceeds of KRW 48,012,000,000, for aggregate gross proceeds of KRW 68,012,000,000 on March 6, 2020. The transaction will involve participation from Hampton Fund for KRW 20,000,000,000. The series 11 bonds will mature on December 31, 2023. The series 11 bond carry coupon rate of 0% and have yield to maturity of 3%. The series 11 bonds are 100% convertible into 9,438,414 common shares representing 13.32% of total shares of the company at a fixed conversion price of KRW 2,119 per share. The subscription date of bonds is March 6, 2020. The payment date for series 11 bonds is December 31, 2020. The conversion period for series 11 bonds is from December 31, 2021 to November 30, 2023. The transaction has been approved by the company’s board of directors.