Corestem, Inc. announced a private placement of 1st series unregistered convertible bonds for gross proceeds of KRW 41,000,000,000 on June 25, 2020. The transaction will include participation from 36 investors, including NH Investment & Securities Co., Ltd., Investment Arm directly for KRW 2,000,000,000 and through various trusts for KRW 6,900,000,000 for a total of KRW 8,900,000,000, KB Securities Co., Ltd., Investment Arm through various trusts for KRW 3,500,000,000, Korea Investment & Securities Co., Ltd., Investment Arm directly for KRW 1,000,000,000 and through various trusts for KRW 2,000,000,000 for total of KRW 3,000,000,000, and other investors. The bond is issued at zero coupon rate. The bonds can be 100% converted into common shares of the company at a fixed conversion price of KRW 18,672 per share in to 2,195,801 shares of the company. The conversion period is from June 26, 2021 to May 26, 2024. The transaction was approved by the board of directors of the company. The securities are subject to a hold period of 1 year. The transaction is expected to close on June 26, 2020.