CU Medical Systems, Inc. (KOSDAQ:A115480) announced a private placement of series 4 unregistered and unsecured coupon unguaranteed private convertible bond for gross proceeds of KRW 12,000,000,000 on June 5, 2018. The bonds will be issued at par. The bonds carry a coupon rate of 3% and will mature on June 8, 2021.

The bonds are fully convertible into common shares into 3,520,093 common shares at a fixed rate of KRW 3,409 from June 8, 2019 to May 8, 2021. The transaction will include participation from Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 2,100,000,000, GVA Mezz-V Hedge Fund for KRW 1,400,000,000, GVA KOSDAQ Venture Hedge Fund for KRW 450,000,000, GVA KOSDAQ IPO-I Hedge Fund for KRW 550,000,000, ST Capital New Technology Fund 1 for KRW 1,500,000,000, Smart Core Farm Co., Ltd. for KRW 4,800,000,000, and Landmark Asset Management Co., Ltd. for KRW 1,200,000,000. The transaction was approved by the board of directors of the company.

The transaction is expected to close on June 8, 2018.