SNTEK Co., Ltd. (KOSDAQ:A160600) announced a private placement of 7th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 and 2,300,884 common shares at a price of KRW 5,650 per share for gross proceeds of KRW 12,999,994,600 for an aggregate gross proceeds of 27,999,994,600 on July 29, 2019. The transaction will include participation from SeAH Technology Fund for shares and Hana Union 1st Fund for bonds. The company will issue shares through third party capital increase method. The shares are subject to a hold period of one year. The bonds are issued at 5% nominal interest rate, 5% yield to maturity and will mature on September 19, 2022. The bonds are 100% convertible into 2,365,930 shares representing 19.83% stake at a fixed conversion price of KRW 6,340 per share between September 19, 2020 to August 19, 2022. The expected payment date for shares is September 19, 2019 and for bonds is September 12, 2019. The transaction has been approved by the board of directors of the company.