Abpro Bio Co., Ltd. (KOSDAQ:A195990) announced a private placement of series 16 unregistered coupon non-guaranteed private convertible bonds for the gross proceeds of KRW 15,000,000,000 on June 16, 2021. The transaction will include participation from Meritz Securities Co., Ltd., Investment Arm. The bonds carry coupon rate of 2% and interest rate to maturity 2%. The bonds have maturity date of June 18, 2024. The bonds can be 100% converted into 11,244,377 common shares of the company at a fixed conversion price of KRW 1,334 per share, representing the stake of 4.47% in the company. The conversion period start date is June 19, 2022 and end date is June 12, 2024. The subscription date is June 16, 2021. The payment date is June 18, 2021. The transaction has been approved by the company’s board of directors. The bonds carry a hold period of one year.