Ram Technology Co., Ltd (KOSDAQ:A171010) announced a private placement 1,702,187 convertible preferred shares at a price of KRW 6,756 per share for gross proceeds of KRW 11,499,975,372 and 1st unregistered coupon unguaranteed unsecured private convertible bonds for gross proceeds of KRW 7,500,000,000 for total proceeds of KRW 18,999,975,372 on December 4, 2019. The transaction will include participation from Ethnium Growth Investment Association 2018 for 444,049 preferred shares, SLi Quantum Growth Fund, a fund managed by SL Investment for 444,049 shares and bond for KRW 3,000,000,000, Atinum Growth Fund 2018; a fund managed by Atinum Investment Co., Ltd (KOSDAQ:A021080) which will invest KRW 3,000,000,000; Kiwoom Aion KOSDAQ Scale-up Startup Venture Private Equity Investment Partnership Company for 370,041 shares, Korea Investment & Securities Co., Ltd. for 222,024 shares and bond for KRW 1,500,000,000, and E-WON ENG Co., Ltd. for 222,024 shares. The preferred shares are convertible into 1,702,187 common shares at a price of KRW 6,756 per share.

The shares issued are subject to a hold period of one year from the date of issue. The bond maturity date is December 6, 2024. The bond will be 100% converted into 994,431 shares at a fixed price of KRW 7,542 per share.

The conversion period will start from December 6, 2020 to November 6, 2024. The bonds transaction is expected to close on December 6, 2019, and the preferred shares transaction is expected to close on December 11, 2020. The transaction has been approved by the board of directors of the company.