Microtech Co.,Ltd (KOSDAQ:A227950) announced a private placement of series 14 non-guaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on November 13, 2020. The transaction will include participation from S-MAC CO., Ltd. (KOSDAQ : A097780). The bonds are redeemable, will be issued at par, will bear fixed coupon rate and yield to maturity rate of 2%, will mature on December 11, 2023.

The bonds are 100% convertible into 933,706 shares representing 1.82 % stake of the company, at a fixed conversion price of KRW 5,355 per share from December 11, 2021 to November 10, 2023. The transaction has been approved by the board of directors. The payment date is December 11, 2020.

The securities to be issued pursuant to the transaction are subject to the hold period of one year.