ADBiotech Co., Ltd. (XKON:A179530) announced a private placement of 206,897 convertible preferred shares at a price of KRW 14,500 per share for gross proceeds of KRW 3,000,006,500 on June 29, 2020. The transaction will include participation from SBI-Growth Ladder Konex Vitalization Fund No.2, a fund managed by returning investor SBI Investment Korea Co., Ltd. (KOSDAQ:A019550). The conversion period is between July 10, 2020 and July 09, 2030.

The preferred shares are convertible into 206,897 common shares. The shares are redeemable. The repayment period is between July 10, 2023 and July 09, 2030.The transaction has been approved by the board of directors.

The payment date is July 9, 2020.