NewGLAB CO.,LTD (KOSDAQ:A214870) announced a private placement of series 6 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 35,000,000,000 on September 28, 2020. The transaction will include participation from returning investor DB Financial Investment Co.,Ltd., Investment Arm. The bonds are zero coupon bonds and bears fixed interest rate to maturity of 2%. The bonds will mature on October 20, 2023. The bonds are 100% convertible into 2,287,432 shares, representing 7.29%, at a fixed conversion price of KRW 15,301 per share. The conversion period starts from October 20, 2021 and ends on September 20, 2023. The subscription date is September 28, 2020 and the transaction is expected to close on October 20, 2020. The transaction has been approved by the company's board of directors.