U-Tech Co., Ltd. (KOSDAQ:A178780) announced a private placement of 10th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,500,000,000 on May 16, 2019. The transaction will include participation from Jang Cheolho for KRW 1,000,000,000, Landmark Investment Trust Management Co for KRW 900,000,000 and Won Shin for KRW 600,000,000. The bonds will be issued at par. The bonds will carry a coupon rate of 4% and maturity interest rate of 4%. The bonds will mature on May 17, 2022. The bonds will be fully convertible into 2,019,386 shares of the company at a fixed conversion price of KRW 1,238 per share between the period of May 17, 2020 to April 17, 2022. The subscription date is May 17, 2019. The transaction has been approved by the board of directors of the company. The payment date is May 17, 2019.