Gencurix Inc. (XKON:A229000) announced a private placement of series 4 non-guaranteed private equity convertible bonds for gross proceeds of KRW 1,299,999,000 on February 10, 2020. The transaction will include participation from AJU Capital Co., Ltd. (KOSE:A033660) for KRW 999,000,000 and Samsung Securities Co. Ltd., Investment Arm for KRW 300,000,000.

The bonds carry a fixed coupon rate of 4% per annum and yield to maturity of 8%. The bonds will mature on February 10, 2023. The bonds are fully convertible at a fixed conversion price of KRW 19,500 per share into 66,666 common shares from February 11, 2021 to February 9, 2023.

The transaction has been approved by the board of directors of the company. The company expects to close the transaction on February 11, 2020.