JTC Inc. (KOSDAQ:A950170) announced announced a private placement of Series 1 Non-guaranteed Private Equity Convertible Bonds with Bearer Type Interest Part for the gross proceeds of KRW 14,000,000,000 on June 15, 2021. The bonds will mature on June 29, 2026. The bonds are zero coupon bonds and will have 1% maturity rate. The bonds are 100% convertible in to 2,121,855 shares at a conversion price of KRW 6,598 per share. The conversion period will start from June 30, 2022 and ends on May 29, 2026. The transaction has been approved by board of the company. The transaction is expected to close on June 30, 2021 and subscription date is June 17, 2021. The securities issued in the transaction are subject to one year hold period.