DRTECH Corporation (KOSDAQ:A214680) announced a private placement of 4th series coupon unsecured private convertible debentures for gross proceeds of KRW 12,000,000,000 on April 19, 2019. The transaction will include participation from Soosung Co.,Ltd. through its fund 1 and fund 2 for KRW 500,000,000 each and through fund 3 and fund 4 for KRW 1,000,000,000 each, existing investor Industrial Bank of Korea, Investment Arm, Shinhan Eng & Const. Co.,Ltd (KOSE:A005450), Meritz Securities Co., Ltd., Investment Arm for KRW 2,000,000,000 each and existing investor Hanbit Investment Corporation, Ace Susung New Technology Fund 5, and individual investor Cha, Myungsoo for KRW 1,000,000,000 each.

The bonds will be fully convertible into 6,479,481 shares at a fixed conversion price of KRW 1,852 from April 23, 2020 to March 23, 2024. The bonds will carry no coupon rate. The bonds will mature on April 23, 2024.

The payment date of the transaction is April 23, 2019. The transaction was approved by the board of directors of the company.