IM Tech Inc. (KOSDAQ:A226350) announced a private placement of 3rd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 11,000,000,000 on August 1, 2018. The bonds carry 5% yield to maturity and coupon of 1% per annum. The bonds will mature on September 7, 2021. The bonds are 100% convertible at fixed conversion price of KRW 2,640 per share into 4,166,666 shares. The conversion period will start on September 7, 2019 and will end on August 7, 2021. The board of directors of the company has approved the transaction. The subscription date and payment date of the transaction are August 1, 2018 and September 7, 2018 respectively. The transaction includes participation from KCLAVIS Meister New Technology Fund No. 41 for KRW 5,000,000,000, Yoonho Jung, Chief Executive Officer of the company, for KRW 2,000,000,000, Yong-Sun Kim for KRW 2,000,000,000, and other investors.