HLB Therapeutics Co.,Ltd. announced a private placement to issue 1,011,122 shares at an issue price of KRW 9,890 for the gross proceeds of KRW 9,999,996,580 and Series 16 Bearer-Type Non-Guaranteed Private Convertible Bonds for the gross proceeds of KRW 20,000,000,000; aggregate gross proceed of KRW 29,999,996,580 on March 22, 2024. The transaction will include participation from returning investor HLB Co., Ltd. The transaction has been approved by the shareholders of the company. The securities are restricted to a hold period. The transaction is expected to close on April 1, 2024.

Series 16 bonds - The transaction will include participation from new investors Mob New Technology Association No. 237 for KRW 4,000,000,000, EC Partners Korea Co., Ltd. for KRW 500,000,000, Kwangho Lee for KRW 1,500,000,000, Sujin Kim for KRW 1,000,000,000, Yoon-je Nam for KRW 1,000,000,000, Jihoon Park for KRW 1,000,000,000, Jeong-il Song for KRW 1,000,000,000, Yong-ho Cho for KRW 1,000,000,000, Min-seon Lee for KRW 800,000,000, Soonju Lee for KRW 700,000,000, Yoo Wook-rim for KRW 600,000,000, Go Eunbi for KRW 500,000,000, Go Inhong for KRW 500,000,000, Jeonghee Kim for KRW 500,000,000, Hoosung Kim for KRW 500,000,000, Joo-chan Park for KRW 500,000,000, Jisub So for KRW 500,000,000, Byeong-sul Yu for KRW 500,000,000, Dongsoo Lee for KRW 500,000,000, Soonho Choi for KRW 500,000,000, Daesik Kang for KRW 300,000,000, Kim Eun-kyung for KRW 300,000,000, Myeongjegeol for KRW 300,000,000, Jang Gwang-soon for KRW 300,000,000, Jongseong Kim for KRW 200,000,000, So Jiyoung for KRW 200,000,000, Eunmi Shin for KRW 200,000,000, Haeng-seon Lee for KRW 200,000,000, Ye-bae Kim for KRW 100,000,000, Dabin Lee for KRW 100,000,000, Eunhee Lee 100,000,000 and Jaechan Lee for KRW 100,000,000. The transaction has been approved by the shareholders of the company and is expected to close on March 26, 2024. The bonds bear 1% coupon rate and 2% maturity rate and matures on April 1, 2027. The securities are restricted to a hold period. The bonds are 100% convertible into 1,927,525 shares at a fixed conversion price of KRW 10,376 from April 1, 2025 to February 28, 2027.