BK TOPS Co., Ltd. announced a private placement of round 11 Unregistered non-guaranteed private convertible bonds for gross proceeds of KRW 7,000,000,000 on July 19, 2021. The transaction will include participation from CEO of the company, Sangyong Jung. The bonds are zero coupon bonds with a yield to maturity of 3%, will mature on August 3, 2024 and are being issued at face value. The bonds are fully convertible into 716,112 shares at a conversion price of KRW 9,775 per share from July 26, 2022 to June 26, 2024. The transaction has been approved by the board of directors of the company. The subscription date is on the same date and the payment date is on July 26, 2021.