GemVax Technology Co., Ltd. (KOSDAQ:A041590) announced a private placement of 11th unregistered unsecured private convertible bonds for KRW 8,500,000,000 and 10th unregistered unguaranteed and unsecured private convertible bonds for KRW 4,600,000,000, for total gross proceeds of KRW 13,100,000,000 on November 15, 2016. The bonds will mature on November 15, 2019. The 10th series bonds carry fixed coupon rate of 4% per annum and yield to maturity of 4%.

The bonds are convertible into common shares of the company at KRW 4,058 per share. The conversion period for bonds will start on November 15, 2017 and will end on October 15, 2019. The 11th series bonds are subscribed by new investors, Sejong Mutual Savings Bank Co.,Ltd., Investment Arm for KRW 7,500,000,000, Gongpyung Savings Bank, Investment Arm for KRW 500,000,000 and Sedo Gi for KRW 500,000,000.

The 10th series bonds are subscribed by new investors Liveplex Co.,Ltd. (KOSDAQ:A050120) for KRW 1,000,000,000, Jooyon Tech Co., Ltd. (KOSE:A044380) for KRW 1,000,000,000, WOORIRO Co., Ltd. (KOSDAQ:A046970) for KRW 1,000,000,000, CTL, Inc. (KOSDAQ:A036170) for KRW 1,000,000,000, Junghee Choi for KRW 200,000,000, Inseok Hwang for KRW 200,000,000, and Youngdae Kim for KRW 200,000,000.