CHA Biotech Co., Ltd. (KOSDAQ:A085660) announced a private placement of series 7 unregistered coupon nonguaranteed private non-detachable bond with warrants for the gross proceeds of KRW 50,000,000,000 and 6th series Unregistered coupon non guaranteed private convertible bond for gross proceeds of KRW 25,000,000,000 on June 17, 2020. The transaction will include participation from Brain Hedge Fund 29, a fund managed by KEB Hana Bank, Investment Arm for KRW 1,500,000,000, Brain Kosdaq Venture Hedge Fund 2, a fund managed by NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,500,000,000, Brain Hedge Fund 17, a fund managed by Woori Financial Group Inc. (KOSE:A316140) for KRW 2,000,000,000, Orion Mezzanine Multi-strategy Hedge Fund 1, a fund managed by Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 1,000,000,000, Orion Growth-Multi KOSDAQ Venture Hedge Fund 4, a fund managed by NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 400,000,000, Orion Major General Plus KOSDAQ Venture Hedge Fund 45, a fund managed by NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,400,000,000, IBKC-EQP Innovative Technology Fund, a fund managed by Korea Investment Private Equity for KRW 3,000,000,000, IBK Financial Synergy IB Mezzanine New Technology Fund for KRW 1,000,000,000, returning investors, IBK Capital Corporation for KRW 3,500,000,000, Kyunghee Industry Co. Ltd. for KRW 6,000,000,000 and Sungkwang Medical Foundation, Endowment Arm for KRW 4,000,000,000.

The bonds will mature on June 19, 2025, are issued at 0% coupon rate and no yield to maturity rate. The bonds has a fixed conversion price of KRW 23,047 per share. The conversion period is from June 19, 2021 to May 19, 2025.

The transaction is expected to close on June 19, 2020.