HLB PANAGENE Co., LTD. announced a private placement to issue Series 7 Bearer-Type Unsecured Private Placement Convertible Bonds for the gross proceeds of up to KRW 2,000,000,000 on January 17, 2024. The transaction will include participation from a new investor, Gencurix Inc. The bonds will be 100% convertible into 500,125 shares at a conversion price of KRW 3,999 in a period starting from January 24, 2025 and ending on December 24, 2026. The maturity date of the bonds is January 24, 2027.

The transaction is expected to close on January 24, 2024. The transaction has been approved by the board of directors of the company.