GL Pharm Tech Corp. (KOSDAQ:A204840) announced a private placement of series 6 non-guaranteed private equity convertible bonds with registered interest for gross proceeds of KRW 4,500,000,000, 5,016,722 shares at the price of KRW 897 per share for gross proceeds of KRW 4,499,999,634 and total proceeds of KRW 8,999,999,634 on November 23, 2020. The transaction will include participation from Ideal Priavate Equity 1 Co., Ltd. The bonds will have interest rate of 4% and surface to interest rate 2% and will mature on November 29, 2025. The bonds to be issued are 100% convertible into 4,950,495 shares at a price of KRW 909 for 10.49% equity during the period November 30, 2021 to November 29, 2025. The subscription date is November 23, 2020 and payment date is November 30, 2020. The security to be issued in the transaction will be subject to hold period of one year. The transaction has been approved by the board of directors of the company.