IM Tech Inc. (KOSDAQ:A226350) announced a private placement of 9th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on June 18, 2019. The transaction will include participation from Won Car Global Networks Co., Ltd. The bonds will carry a fixed coupon and yield to maturity of 3.5%. The maturity date of the bonds is July 10, 2022. The bonds are 100% convertible into 4,226,211 common stock at a conversion price of KRW 1,172 per share. The conversion period will start on July 10, 2020 and end on June 10, 2022. The securities issued are subject to a restriction period of one year. The transaction has been approved by board of directors of the company. The payment date is July 10, 2019.