SNP Genetics Inc. announced a private placement of round 3 non-guaranteed private convertible bonds bearer-in-chief for gross proceeds of KRW 10,000,000,000 on May 16, 2022. The transaction will include participation from Kalis BNT Co., Ltd. The bonds carries interest coupon rate 0% and maturity rate of 5%. The bonds will mature on May 23, 2025.

The bonds will be converted into 1,285,347 shares at a conversion value of KRW 7,780. The company may exercise a call option before expiration on the first day of every month from the date of 1 year from the issuance date to the date of 2 years and 9 months. The conversion period starts from May 23, 2023 to February 23, 2025.

The transaction has been approved by the board of directors. The transaction is expected to close on May 23, 2022. The securities carry a hold period of one year.