Bio Protech Inc. (XKON:A199290) announced a private placement of series 9 non-guaranteed unsecured privately equity convertible bonds for the gross proceeds of KRW 2,000,000,000 on April 9, 2021. The transaction will involve participation from Metistone Growth Support Private Equity Investment Partnership. The bonds does not carry a coupon rate and carries a yield to maturity of 1%. The bonds will mature on April 19, 2024. The bonds are 100% convertible into 4,000,000 common shares at a price of KRW 500 per share, representing 68.1% stake in the company, which can be converted from April 19, 2022 to March 20, 2024. The transaction has been approved by board of directors of the company.