AprilBio Co.,Ltd. announced a private placement of series 1 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 15,000,000,000 on April 19, 2023. The transaction included participation from new investors Ehyun Asset Management Co., Ltd., Korea Investment & Securities Co., Ltd. for RW 7,000,000,000, Lake Asset Management Ltd. for KRW 500,000,000, Hi Bio Healthcare New Technology Fund 3 for KRW 7,500,000,000. The bonds will carry 0% coupon rate, 2% yield to maturity rate, will mature on April 21, 2028 and will be 100% convertible into 584,681 common shares of the company at a fixed conversion price of KRW 25,655 per share from April 21, 2024 to March 21, 2028.

The transaction has been approved by the board of directors of the company. The payment date is on April 21, 2023. The securities to be issued in the transaction will be subject to a 1 year hold period from date of issuance.