NEUROPHET, Inc. announced a private placement to issue series 2 bearer type, interest free unsecured private placement convertible bonds for gross proceeds of KRW 16,000,000,000 and 695,214 registered non-voting convertible preferred shares at an issue price of KRW 23,014 for gross proceeds of KRW 15,999,654,996 for aggregate proceeds of KRW 31,999,654,996 on April 10, 2026. The transaction includes participation from new investors, LS SECURITIES Co., Ltd. for KRW 1,999,981,314, Global Asset Management Co., Ltd for KRW 999,979,150, BNK Securities Co.,Ltd. for KRW 999,979,150, Prophet Pacific AI Healthcare New Technology Fund for KRW 4,999,987,806, Focus Premier KOSDAQ Venture General Private Equity Investment Trust No. 1 advised by KB Securities Co., Ltd. for KRW 199,995,830 and other investors.
The bonds have zero coupon rate and 1.5% interest rate to maturity. The bonds will mature on April 20, 2031. The bonds will be 100% converted into 695,228 common shares at a fixed conversion price of KRW 23,014 per share.
The conversion period is from April 20, 2027 to March 20, 2031. The preferred shares will be convertible into 695,214 shares at a conversion price of KRW 23,014. The preferred shares will be convertible from April 21, 2027 to March 21, 2031.
The payment date of the transaction is April 20, 2026. The transaction has been approved by the board of directors of the company. The transaction will happen through third party allocation.
The securities are subject to 1 year lockup.
