REYON Pharmaceutical Co., Ltd. (KOSE:A102460) announced a private placement of 1st series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 40,000,000,000 on July 20, 2017. The transaction will include participation from IBK Link Hidden Champion Growth No. 1 PEF for gross proceeds of KRW 20,000,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for gross proceeds of KRW 10,000,000,000, and KDB Capital Corp.

for gross proceeds of KRW 10,000,000,000. The bonds are issued at par and do not carry any coupon. The bonds would mature on July 21, 2022.

The bonds are fully convertible into 1,878,287 shares of the company at a fixed conversion price of KRW 21,296 between a period of July 21, 2018 to June 21, 2022. The subscription date and payment date is July 21, 2017. The transaction has been approved by the board of directors of the company.