BNC Korea Co., Ltd. (KOSDAQ:A256840) announced a private placement of series 2 unregistered coupon non-guaranteed private equity convertible bonds for gross proceeds of KRW 35,000,000,000 on April 9, 2021. The transaction involved participation from NH Absolute Return Specialty Investment Type Private Investment Trust No. 1, a fund managed by NH Investment & Securities Co., Ltd., Asset Management Arm for KRW 2,000,000,000, NH Absolute Mezzanine Hedge Fund 1 for KRW 2,000,000,000, Time Folio It’s Time Mezzaznine T Hedge Fund for KRW 1,200,000,000, Time Folio The Venture-V 2 Hedge Fund for KRW 900,000,000, Time Folio Mezzanine Alpha Hedge Fund for KRW 900,000,000, all funds managed by Timefolio Asset Management Co.,Ltd together for KRW 3,000,000,000, JC Asset KOSDAQ Venture Hedge Fund 3 for KRW 800,000,000, JC Asset KOSDAQ Venture Hedge Fund 5 for KRW 700,000,000, JC Asset KOSDAQ Venture Hedge Fund 6 for KRW 500,000,000, all funds managed by Jc Asset Management Ltd together for KRW 2,000,000,000, KY KOSDAQ Venture Hedge Fund 3, a fund managed by Ky Asset Management Co., Ltd for KRW 2,500,000,000, SP KOSDAQ Venture Hedge Fund 3, a fund managed by Sp Asset Management for KRW 2,000,000, GVA coben-M Hedge Fund for KRW 900,000,000, GVA coben-Alpha Hedge Fund for KRW 600,000,000, GVA The Banks1 Hedge Fund for KRW 500,000,000, all three funds managed by GVAA Asset Management together for KRW 2,000,000,000, C Squared Asset Management Venture Investment Hedge Fund 8 for KRW 500,000,000, C Squared Asset Management Venture Investment Hedge Fund 9 for KRW 500,000,000, C Squared Asset Management Venture Investment Hedge Fund 10 for KRW 1,000,000,000, all three funds managed by CSquared Global Asset Management together for KRW 2,000,000,000, A1 Mezzanine Plus Public Stock Hedge Fund for KRW 336,000,000, A1 Plus Alpha Kosdaq Venture Hedge Fund for KRW 143,000,000, A1 Supreme KOSDAQ Venture Hedge Fund for KRW 221,000,000, A1 Galaxy KOSDAQ Venture Hedge Fund, A1 Horizon KOSDAQ Venture Hedge Fund, A1 Pride KOSDAQ Venture Hedge Fund, A1 Active KOSDAQ Venture Hedge Fund for KRW 1,300,000,000, all funds managed by A1 Asset Management together for KRW 2,000,000,000, BNB IPO Venture PEF 2 for KRW 500,000,000, BNB Mezzanine PEF 2 for KRW 500,000,000, BNB IPO Venture PEF 3 for KRW 500,000,000, all funds managed by BNB Asset Co., Ltd. for KRW 1,500,000,000, Billion Fold KOSDAQ Venture Hedge Fund2 for KRW 1,000,000,000, a fund managed by Billionfold Asset Management Inc., Assem KOSDAQ Venture Plus Hedge Fund7 for KRW 200,000,000, Assem Dunden KOSDAQ Venture Hedge Fund 1 for KRW 300,000,000, Assem Dunden KOSDAQ Venture Hedge Fund 2 for KRW 500,000,000, all three funds managed by Assem Asset Management, Smilegate Rainier KOSDAQ Venture Hedge Fund 4 for KRW 500,00,000, Smilegate Black Beat KOSDAQ Venture Hedge Fund 2 for KRW 500,000,000, both funds managed by Smilegate Asset Management Inc together for KRW 1,000,000,000, Daedeok KOSDAQ Venture Hedge Fund 1, a fund managed by Daedeok Asset Management for KRW 1,000,000,000, KAAM KOSDAQ Venture Hedge Fund 1 for KRW 500,000,000, Korea Alternative Investment Nice KOSDAQ Venture PEF 3 for KRW 500,000,000, both funds managed by Korea Alternative Investment Asset Management Corp. together for KRW 1,000,000,000, STL V1 KOSDAQ Venture 2, a fund managed by Shinyoung Asset Management Co., Ltd. for KRW 500,000,000, IBK Capital Corporation for KRW 3,000,000,000, NH Investment & Securities Co., Ltd., Asset Management Arm for KRW 2,000,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,500,000,000, Nongshim Capital Co., Ltd. for KRW 1,000,000,000, and Eco Capital Co.,Ltd. for KRW 1,000,000,000. The bonds have zero interest rate. The bonds are fully convertible into 4,593,175 shares at an issue price of KRW 7,620 per share for 8.2% stake. The conversion period starts on April 13, 2022 and ends on March 13, 2026. The debt maturity date is April 13, 2026. The bonds to be issued will have a hold period of one year, post the closing. The payment date is on April 13, 2021. The company will also issue 731,959 common shares at an issue price of 6,831 per share for proceeds of KRW 5,000,011,929. The common shares will be issued through third party allocation increase method. he payment date for common shares is April 19, 2021. The common shares will be issued to Asset One Asset Management. The transaction has been approved by the board of directors of the company.