OliX Pharmaceuticals, Inc announced a private placement to issue series 2 bearer unsecured convertible bonds for gross proceeds of KRW 23,600,000,000 on December 7, 2023. The transaction will include participation from new investor AJU Good Venture Fund 2.0, a fund managed by returning investor AJU IB INVESTMENT Co., Ltd. for KRW 11,000,000,000 and returning investor Kiwoom Hero Private Equity Fund IV, a fund managed by Kiwoom Investment Co., Ltd. for KRW 12,600,000,000. The bonds will bear fixed interest rate of 4% per annum.

The bonds will mature on December 15, 2026. The bonds are convertible into 1,744,787 common shares at a fixed conversion price of KRW 13,526 per share from December 15, 2024 to November 15, 2026. The transaction is expected to close on or before December 15, 2023.

The transaction is approved by the board of directors of the company.