Bio Protech Inc. announced a private placement of series 11 unregistered nonguaranteed unsecured convertible bonds for the gross proceeds of KRW 150,000,000 on July 8, 2021. The transaction will involve participation from T Investment Startup 1, a fund managed by T Investment for KRW 100,000,000 and Mijin Company Co., Ltd. for KRW 50,000,000. The bonds carries surface interest of 0% and yield to maturity of 1%. The bonds will mature on July 9, 2024. The bonds are 100% convertible into 300,000 common shares at a price of KRW 500 per share, representing 4.21% stake in the company, which can be converted from July 9, 2022 to June 9, 2024. The transaction has been approved by board of directors of the company. The payment date is July 9, 2021. The bonds to be issued will have a hold period of one year, post the closing.