Biemt Co Ltd (KOSDAQ:052900) announced a private placement of eighth unregistered unsecured unguaranteed domestic private convertible bonds for gross proceeds of KRW 2,500,000,000 on January 18, 2016. The bonds will be issued at par. The bonds have a maturity date of February 5, 2019 and yield to maturity of 3%.

The bonds do not carry any annual coupon and have lump-sum redemption of principal on maturity date. The bonds can be fully converted into common shares of the company at a fixed conversion price of KRW 1,350 per share and a conversion period from February 5, 2017 to February 4, 2019. The transaction will include participation from new investors, Yeon-Ok Lim for KRW 700,000,000, Hoon-Sik Kim for KRW 800,000,000, Jin-Tae Jung for KRW 500,000,000, Joon-Sik Shin for KRW 300,000,000, and Jung-Hyun Park for KRW 200,000,000.

The subscription date and the payment date for the transaction is February 5, 2016. The transaction was approved by the board of directors of the company.