Biocore Co., Ltd. (XKON:A216400) announced a private placement of Series 1 The 1st Non-guaranteed Private Equity Convertible Bonds for the gross proceeds of KRW 21,000,000,000 and 1,541,850 registered convertible redeemable preferred shares at a price of KRW 13,620 per share for gross proceeds of KRW 20,999,997,000; for aggregate proceeds of KRW 41,999,997,000 on February 17, 2021. The transaction will include participation from existing investor New Lake Alliance The Healthcare, Inc. The bonds will mature on September 05, 2025 and bonds will bear 2% coupon rate and 2% interest to maturity. The bonds are 100% convertible in 1,539,589 common shares at a conversion price of KRW 13,640. The conversion period will start from February 26, 2022 and ends on August 05, 2025. The preferred shares are convertible into 1,541,850 common shares from April 1, 2022 to March 30, 2030. The transaction has been approved by board of the company. The payment date for the bonds is February 26, 2021 and subscription date for the bonds is February 17, 2021. The payment date for the preferred shares is March 31, 2021. The securities to be issued are subject to a hold period for one year.