MS Autotech Co.,Ltd (KOSDAQ:A123040) announced a private placement of series 25 non-guaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on February 16, 2021. The transaction will include participation Korea Investment-On Enterprise Green Mobility No. 1 Corporate Financial Stability Private Equity Partnership. The bonds have a surface interest rate of 1% and interest rate to maturity of 3% and debt maturity date of February 24, 2026. The bonds are 100% convertible into 555,555 common shares for 32.03% stake in the company at a conversion price of KRW 45,000 per share. The conversion period starts from March 24, 2021 and ends on January 24, 2026. The company expects to close the transaction on February 24, 2021. The transaction has been approved by the company’s board of directors.