Ildong Pharmaceutical Co., Ltd. (KOSE:A249420) announced a private placement of round 1 bearer-free interest-free non-guaranteed private equity convertible bonds for proceeds of KRW 100,000,000,000 on January 18, 2021. The transaction included participation form KB No. 3 Bio Private Equity Joint Stock Company for KRW 80,000,000,000, and KB-Now Special Situation Corporate Financial Stability Private Equity Partnership for KRW 20,000,000,000. The bonds carry a coupon rate of 0% and yield to maturity of 0%. The bonds have a debt maturity date of January 28, 2026. The bonds are fully convertible into 5,000,000 common shares for a stake of 21.01% at a conversion price of KRW 20,000 per share during January 28, 2022 to December 28, 2025. The bonds will have a payment date of January 28, 2021 and subscription date on January 20,2021. The transaction was approved by board of directors of the company. The securities are subjected to one year hold period. The place of payment is at Woori Bank Yangjaenam Financial Center.