Bio Protech Inc. (XKON:A199290) announced a private placement of series 4 unregistered unsecured unsecure convertible debentures for gross proceeds of KRW 3,000,000,000 on July 9, 2019. The debentures issued in the transaction have maturity interest rate of 3% and date of maturity on July 11, 2024. The debentures are fully convertible at a conversion price of 4,500 per share. The debentures will be convertible into 666,666 registered common shares , comprising of 11.41% of the stake. The conversion of the debentures will start on July 11, 2020 and will end on June 11, 2024. The transaction has been approved by the board of directors of the company. The debentures have a hold period of one year, post the closing of the transaction. The payment date is July 11, 2019.