IM Tech Inc. (KOSDAQ:A226350) announced a private placement of 10th series of unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 7,800,000,000 on June 19, 2019. The transaction included participation from individual investor Sangjin Kim for 4,934,693,880 shares, Seokjin Kim for 1,432,653,060 shares, Younggeum Jung for 1,432,653,060 shares. The bonds will carry a coupon rate of 3.5% and a yield to maturity of 3.5%. The bonds would mature on July 10 ,2022. The bonds will be fully convertible into 6,695,278 shares of the company at a fixed conversion price of KRW 1,165 per share from June 19, 2020 to May 19, 2022. The bonds issued in the transaction have a hold period of 12 months, post the closing of the transaction. The transaction has been approved by the board of directors of the company. The subscription date of bonds is June 19, 2019 and the payment date is June 19, 2019.