Virtualtek Corp (KOSDAQ:A036620) announced a private placement of 6th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 and 6,715,505 common shares at a price of KRW 819 per share for gross proceeds of KRW 5,499,998,595, for aggregate gross proceeds of KRW 20,499,998,595 on March 26, 2019. Yongrae Park will acquire bonds worth KRW 2,000,000,000, Ryong An will acquire bonds worth KRW 1,000,000,000, Eunsang Choi will acquire bonds worth KRW 1,000,000,000, Junmin Lee will acquire bonds worth KRW 2,000,000,000, Hyungwook Kim will acquire bonds worth KRW 1,000,000,000, Gujong Yeo will acquire bonds worth KRW 500,000,000, Sangwook Lee will acquire bonds worth KRW 500,000,000, Yoonhong Lee will acquire bonds worth KRW 1,000,000,000, Dongsik Cho will acquire bonds worth KRW 1,000,000,000, Kyungil Im will acquire bonds worth KRW 500,000,000, Chanju Kim will acquire bonds worth KRW 500,000,000, Youngju Im will acquire bonds worth KRW 1,000,000,000, Jihyun Seo, Chief Executive Officer and largest shareholder will acquire bonds worth KRW 1,000,000,000, Jikyung Seo will acquire bonds worth KRW 400,000,000, Taeil Song will acquire bonds worth KRW 300,000,000, Star Zio Co., Ltd. will acquire bonds worth KRW 1,300,000,000, Drion Co., Ltd. for 3,052,503 shares, returning investor Hosun Kim for 1,221,001 shares, new investors Jungil Park for 1,221,001 shares, Dam Kim for 610,500 shares and Shinil CM Co. Ltd. for 610,500 shares . The bonds will be issued at par. The convertible bonds carry fixed 2.5% yield to maturity and fixed 2.5% annual coupon rate. The convertible bonds will be converted into 15,197,550 shares at fixed conversion price of KRW 987 per share and the conversion period is from May 29, 2020 to April 29, 2022. The convertible bonds will mature on May 28, 2022. The shares will be issued at a premium of KRW 319 per share. The company will issue shares through third party allotment method. The shares will be issued with a lock up period of one year. The transaction was approved by the board of directors. The subscription date will be March 26, 2019 and payment date will be May 29, 2019.