HLB Life Science Co., Ltd. announced a private placement that it has issued 12th Series Bearer Type Non-Guaranteed Private Convertible Bonds for the aggregate gross proceeds of KRW 28,799,996,266 on November 7, 2023. The transaction included participation from individual investor, Cho Yong-ho. The maturity date of the convertible bond is November 7, 2026.

The bonds will be fully convertible into 3,004,381 shares of the company at a fixed conversion price of KRW 9,586 per share from November 7, 2024 to October 6, 2026. The transaction has been approved by the board of directors of the company.