ITEK, Inc. (KOSDAQ:A119830) announced that it will issue series 2 non-guaranteed private equity non-separable convertible bonds for gross proceeds of KRW 3,500,000,000 on June 2, 2020. The bonds do not carry coupon and 3% yield to maturity. The bonds will mature on June 04, 2023. The bonds will be issued at par. The bonds are fully convertible into 510,948 shares representing 4.69% stake at a fixed conversion price of KRW 6,850 each starting from June 04, 2021 till May 04, 2023. The subscription date is June 02, 2020 and expected payment date is June 04, 2020. The transaction has been approved by the board of directors of the company.