Ensol Biosciences Inc. announced a private placement of round 3 non-guaranteed private convertible bonds with bearer types interest part for gross proceeds of KRW 5,000,000,000 on April 11, 2022. The transaction will include participation from Gluon Bond Investment Day. The face value of the bonds is KRW 5,000,000,000.

The bonds does not bear any interest and matures on May 9, 2027. The bonds are fully convertible into 336,700 shares representing 3.34% stake at a fixed conversion price of KRW 14,850 per share between May 9, 2023 and April 9, 2027. The subscription date is April 11, 2022 and payment date is May 9, 2022.

The transaction has been approved by the board of directors of the company. The shares issued are subjected to one year hold period.