Nano Chem Tech Inc. (KOSDAQ:A091970) announced a private placement of 5th series bearer interest-free private equity convertible bonds for gross proceeds of KRW 20,000,000,000 on November 26, 2019. The transaction will include participation from Trinity Equity Partners Co., Ltd and Ik Sun Choi for KRW 10,000,000,000 each. The bonds will be issued at par and carry zero coupon rate. The bonds will have yield to maturity of 4% and will mature on March 31, 2023. The bonds will be 100% converted into 8,064,516 common shares representing 25.17% of the company at a fixed conversion price of KRW 2,480 per share. The conversion period is from March 31, 2021 to March 31, 2023. The payment date of the transaction is March 31, 2020. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of 1 year.