GW Vitek CO.,LTD (KOSDAQ:A036180) announced a private placement of 1,843,317 common shares at an issue price of KRW 1,085 per share for gross proceeds of KRW 1,999,998,945 and series 15 unregistered coupon nonguaranteed private convertible bond of KRW 9,290,000,000; for an aggregate gross proceeds of KRW 11,289,998,945 on February 19, 2021. The transaction will include participation from Employee Stock Ownership Association for shares. The transaction will include participation for bonds from Geum-suk Kim for KRW 2,000,000,000, Yoonjae Lee for KRW 1,500,000,000, Si-nyeon Kim for KRW 1,500,000,000, Hyungjik Oh for KRW 785,000,000, Dong-beom Song for KRW 345,000,000, Tae Hyung Kim for KRW 300,000,000, Shinyoung Global Co., Ltd. for KRW 230,000,000, Namsoo Kim for KRW 200,000,000, Gilyoung Jeong for KRW 200,000,000, Well Food World Co., Ltd. for KRW 200,000,000, Hyanglim Lee for KRW 200,000,000, Man Hee Lee for KRW 165,000,000, Green Cos Co., Ltd. for KRW 150,000,000, Myeongseong Impress Co., Ltd. for KRW 100,000,000, Myung-chun Lee for KRW 100,000,000, Jinho Choi for KRW 100,000,000, Seonyoung Jeong for KRW 100,000,000, Gyeong-deok Moon, Non-registered Executive for KRW 100,000,000, Kyungrok No, Registered Officer for KRW 330,000,000, Imsook Jeong for KRW 80,000,000, Maru Logics Co., Ltd. for KRW 70,000,000, Hokyung Son for KRW 60,000,000, Kun-ho Lee for KRW 55,000,000, Ji-san Choi for KRW 45,000,000, i Jihong Cho for KRW 45,000,000, Hwan-mook Kim for KRW 30,000,000, Jeongmi Lee for KRW 30,000,000, Gilyong Lee for KRW 20,000,000, Yongsu Lim for KRW 20,000,000, Sang-jo Lee for KRW 20,000,000, Sangjun Ahn, Non-Registered Executive for KRW 15,000,000, Doosun Choi, Chanmin Jeon, Chanho Jeon, Bonghyun Lee, Changki Kim for KRW 15,000,000 each, and Sehee Choi and Youngmi Kim for KRW 10,000,000 each. The shares have a face value of KRW 500 per share. The maturity date of the bonds is March 5, 2023. The bonds carry zero coupon rate of interest. The bonds are fully convertible into shares of the company at a conversion price of KRW 1,205 per share. The conversion period will start from March 5, 2022 and ends on February 5, 2023. The transaction has been approved by the board of directors of the company. The company will issue shares using third party allocation method. All securities to be issued are subject to a hold period of one year. The shares are being issued at a discount rate of 10%. The transaction is expected to close on March 5, 2021.