Cellumed Co., Ltd. announced a private placement of series 26 Unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 5,000,000,000 on March 29, 2023. The transaction will include participation from Sangsangin Savings Bank, Investment Arm for KRW 3,000,000,000 and Sangsangin Plus Savings Bank, Investment Arm for KRW 2,000,000,000. The bonds will have interest rate of 2% and will mature on April 5, 2026.

The bonds are 100% convertible into 894,454 shares at an fixed conversion price of KRW 5,590 per share. The bonds will start conversion from April 5, 2024 and will end on March 5, 2026. The transaction is excepted to close on April 5, 2023.

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