Oscotec Inc. (KOSDAQ:A039200) announced a private placement of tenth series unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 on December 22, 2017. The transaction will include participation from new investors, Mirae Asset New Growth Good Company Investment Fund 17-1 for KRW 1,000,000, Mirae Asset High Tech Frontier Fund for KRW 1,000,000,000, AJU Good Venture Fund, a fund managed by returning investor AJU IB INVESTMENT Co., Ltd. for KRW 1,500,000,000, OST Growth Contribution Fund 2, a fund managed by returning investor OST Investment for KRW 2,000,000, Oscotec No. 1 Fund for KRW 2,000,000, and TIMEFOLIO Asset Management Co.,Ltd for KRW 1,000,000.

The company will issue bonds at par. The bonds carry zero coupon rate and fixed yield to maturity of 2%. The bonds will mature on December 26, 2020.

The bonds are convertible into 851,063 common shares of the company at a fixed conversion price of KRW 11,750 per share from December 26, 2018 to November 26, 2020. The payment date is December 26, 2017. The transaction has been approved by the board of directors of the company.