TELCON RF PHARMACEUTICAL. Inc. (KOSDAQ:A200230) announced a private placement to issue series 13 unregistered coupon unguaranteed private convertible bonds of KRW 10,000,000,000 on May 24, 2019. The transaction will include participation from IBK Financial Group Synergy Ivy Mezzanine New Technology Fund for KRW 3,000,000,000, Synergy-Shinhan Mezzanine New Technology Business Fund for KRW 2,000,000,000, Synergy Mezzanine Blind No. 1 New Technology Fund for KRW 2,000,000,000, Synergy 4th Industrial Revolution New Technology Business Fund for KRW 2,000,000,000, and existing investor Korea Securities Finance Corporation trust agent of Key West Synergy Mezzanine Hedge Fund 1 for KRW 1,000,000,000. The bonds carry a coupon rate of 5% and yield to maturity of 5%. The bonds will mature on May 31, 2022. The bonds are convertible into 1,449,695 shares at a conversion price of KRW 6,898 per share which represents 1.72% stake in the company. The conversion period starts from May 31, 2020 and ends at April 30, 2022. The subscription date of the transaction is May 24, 2019. The transaction is expected to close on May 31, 2019. The transaction has been approved by the board of the directors.