SD Biotechnologies Co., Ltd. announces private placement of Series 4th Unsecured Convertible Bonds for gross proceeds of KRW 25,000,000,000 and 80,000,000 common shares at an issue price of KRW 500 per share for the gross proceeds of KRW 40,000,000 000; for aggregate total gross proceeds of KRW 65,000,000,000 on December 15, 2023. The shares are restricted to a hold period. The bonds bear surface interest rate of 3%, Interest rate to maturity of 5%.

The bonds will mature on December 19, 2028. The bonds will be convertible into 50,000,000 shares of common stock at an exercise price of KRW 500 per share from December 19, 2024 to December 18, 2028. The transaction is expected to close on December 20, 2023.

The transaction will include participation from new investors Ace Susung New Technology Fund 18, Koino Co.Ltd. and Focus Asset Management Co., Ltd. and Daewon Pharmaceutical Co., Ltd. for 80,000,000 shares. The transaction has been approved by the board of the company.