Microtech Co., Ltd (KOSDAQ:A227950) announced a private placement of 1,676,727 common shares at an issue price of KRW 1,491 per share for gross proceeds of KRW 2,499,999,957, series 11 unregistered private convertible bonds for gross proceeds of KRW 1,000,000,000, series 10 convertible bonds for gross proceeds of KRW 1,000,000,000, series 9 unregistered private convertible bonds for gross proceeds of KRW 8,000,000,000 and series 8 unregistered private convertible bonds for the gross proceeds of KRW 10,000,000,000 for total gross proceeds of KRW 21,499,999,957 on March 24, 2020. The transaction will involve participation from individual investor Wonchul Jung for common shares and KCLAVIS New Technology Fund 19 for series 11 convertible bonds, VVZ2 fund for series 9 convertible bonds and VVZ 1 Fund for series 8 convertible bonds. The shares issued in the transactions will have a face value of KRW 100 per share. The securities issued in the transaction will have a hold period of one year, post the closing of the transaction. The series 11 bonds bear coupon rate of 1% and 2.1% of interest rate, series 10 bonds bear coupon of 1% and interest of 3%, series 9 bonds bear coupon rate of 1% and interest rate is 1.9% and series 8 bonds bear coupon rate of 1% and interest rate is 1.8%. The maturity date of the bonds is April 24, 2023. The bonds are fully convertible into common shares at conversion value of KRW 1,545 per share. The conversion period starts on April 24, 2021 and ends on March 23, 2023. The shares are issued through third party allocation method. The payment date for the shares is April 29, 2020 and for bonds payment date is April 24, 2020. The transaction has been approved by the board of directors of the company. For series 9 bonds, the investor can exercise the right to claim reimbursement on April 24, 2021, the day one year from April 24, 2020, the date of issue of convertible bonds, and every three months thereafter.