IM Tech Inc. (KOSDAQ:A226350) announced a private placement of 7th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,500,000,000 on April 10, 2019. The transaction involved participation from Pile Engineering Co., Ltd. The bonds will carry a fixed coupon and yield to maturity of 3.5%. The maturity date of the bonds is April 10, 2022. The bonds are 100% convertible into 2,254,283 common stock at a conversion price of KRW 1,109 per share. The conversion period will start on April 10, 2020 and end on March 10, 2022. The transaction has been approved by board of directors of the company.