Cytogen, Inc. announced a private placement to issue Series 6 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 9,800,000,000 on March 18, 2024. The transaction will include participation from new investors NH Investment & Securities Co., Ltd.(In the position of trustee of Fund 1 and Fund 2) for KRW 900,000,000, Samsung Securities Co., Ltd. (In the fiduciary position of Fund 3) for KRW 100,000,000, NH Investment & Securities Co., Ltd. (In the position of trustee of Fund 4) for KRW 8,000,000,000, Seunghyun Moon for KRW 200,000,000, Jinoh Song for KRW 400,000,000 and Nblock Investment Co., Ltd. for KRW 200,000,000. The bonds are 100% convertible into 641,739 shares at a fixed conversion price of KRW 15,271 from March 20, 2025 to February 20, 2029.

The bonds bear zero coupon rate and zero maturity rate and matures on March 20, 2029. The securities are restricted to a hold period. The transaction has been approved by the shareholders of the company and is expected to close on March 20, 2024.