Bridge Biotherapeutics, Inc. announced a private placement of 4,741,440 registered convertible preferred shares at an issue price of KRW 10,250 per share for gross proceeds of KRW 48,599,760,000 on May 22, 2022. The company is raising funding through 3rd party allocation increase method. The transaction will include participation from new investors SV 2022 Venture Fund No.

1 for 97,560 shares, SV 2022 Venture Fund No.2 for 97,560 shares, SV 2022 Venture Fund No. 3 for 97,560 shares, Hanwha Investment & Securities Co., Ltd. for 146,341 shares, Daol Investment & Securities Co., Ltd. for 97,560 shares, Shinhan Investment Co., Ltd. for 97,560 shares, SK Securities Co., Ltd. for 97,560 shares, IBK Capital Corporation for 97,560 shares, CL Investors Co., Ltd. for 97,560 shares, Quad Healthcare Multi-Strategy 13 General Private Equity Trust for 390,243 shares, NH Absolute Return General Private Equity Trust No. 1 for 97,560 shares, NH Absolute KOSDAQ Venture Mezzanine Specialized Investment Private Equity Trust No.

1 for 97,560 shares, NH Absolute KOSDAQ Venture Mezzanine Alpha General Private Equity Trust No. 1 for 48,780 shares, Suseong KOSDAQ Venture B11 General Private Equity Trust for 19,512 shares, Suseong KOSDAQ Venture T1 General Private Equity Trust (Professional Investor) for 48,780 shares, Suseong KOSDAQ Venture T2 General Private Equity Trust for 78,048 shares, Suseong KOSDAQ Venture T3 General Private Equity Trust (Professional Investor) for 97,560 shares, Smilegate Blackbit KOSDAQ Venture Specialized Investment Type Private Equity Trust No. 2 for 195,121 shares, GBA Saber-G General Private Equity Trust for 4,878 shares, GBA Saber-V General Private Equity Trust for 9,756 shares, GBA Fortress-A General Private Equity Trust for 180,487 shares, Trinity Mezzanine Plus General Private Equity Trust No.

1 for 97,560 shares, KAAM KOSDAQ Venture General Private Equity Trust No. 1 for 97,560 shares, Blash KOSDAQ Venture General Private Equity Trust No. 1 for 29,268 shares, Blash KOSDAQ Venture General Private Equity Trust No.

2 for 29,268 shares, Platform Multi-Solution 50 KOSDAQ Venture Specialized Investment Criminal Investment Trust No. 1 for 48,780 shares, SV Scale-up Fund, a fund managed by SV Investment Corporation for 975,609 shares, KB New Deal Innovation Fund, a fund managed by KB Investment Co., Ltd. for 487,804 shares, Smart Korea Company K Untact Fund and Company K New Deal Fund, funds managed by Company K Partners Co., Ltd. for 487,803 shares and Smilegate New Deal Fund, a fund managed by Smilegate Investment, Inc. for 292,682 shares. The payment date for 4,448,760 shares is May 31, 2022 and conversion request period is June 01, 2023 to May 31, 2027 and for 292,680 shares is June 30, 2022 and conversion request period is July 01, 2023 to June 30, 2027.

Shareholders of the preferred stock may request conversion of all or part of the preferred stock into common stock from the date one year has elapsed from the issuance date of the preferred stock to the day before the duration of the preferred stock. The initial conversion ratio is 1:1. The transaction has been approved by the board of directors. All securities issued in the transaction have a hold period of one year.