Bio Protech Inc. (XKON:A199290) announced a private placement of series 7 unregistered nonguaranteed unsecured convertible bonds for the gross proceeds of KRW 2,000,000,000 on March 18, 2021. The transaction will include participation from KC-GP New Technology Fund 1. The bonds have a yield to maturity of 1% and zero coupon rate with maturity date of March 18, 2024. The bonds are fully convertible into 4,000,000 shares at a rate of KRW 500 per share. The bonds have a conversion period from March 18, 2022 to February 18, 2024. The transaction was approved by board of directors. The bonds issued have a hold period of one year, post the closing.