MS Autotech Co.,Ltd (KOSDAQ:A123040) announced a private placement of series 22 non-guaranteed private convertible bonds for gross proceeds of KRW 23,000,000,000 on June 25, 2020. The transaction will include participation from Suseong Asset Management Co., Ltd. for KRW 4,000,000,000, Ace Suseong New Technology Fund No. 5 for KRW 500,000,000, KB Securities Co., Ltd. for KRW 4,500,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 3,700,000,000, Samsung Securities Co.,Ltd. (KOSE:A016360) for KRW 4,500,000,000, Korea Investment & Securities Co., Ltd. for KRW 1,300,000,000, Nichi Investment & Securities Co., Ltd. for KRW 500,000,000, and Leading Investment & Securities Co., Ltd., Evest Investment Securities Co., Ltd., Hanyang Securities Co.

Ltd. (KOSE:A001750), Details Investment Advisory Co., Ltd. for KRW 1,000,000,000 each. The bonds will expire on June 29, 2025. The bonds have a fixed coupon rate of 2% and fixed interest rate of 3%.

The bonds are 100% convertible into 4,003,481 common shares at a conversion price of KRW 5,745 per share. The conversion period starts from June 29, 2021 and ends on May 29, 2025. The company expects to close the transaction on June 29, 2020.

The transaction has been approved by the company's board of directors.