HLB SCIENCE Inc. announced a private placement of series 4 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 2,000,000,000 on February 1, 2023. The transaction will include participation from KNOTUS Co.,Ltd. The bonds carry a coupon rate of 2% and yield to maturity rate of 2% and will mature on February 9, 2028. The series 4 bonds are fully convertible into 782,778 common shares at a conversion price of KRW 2,555 per share from February 9, 2024 to January 9, 2028. The bonds are restricted to a hold period of 1 year from the date of issuance. The transaction has been approved by shareholders of the company. The transaction is expected to close on February 9, 2023.

On the same date, the company announced a private placement of 1,304,348 common shares at an issue price of KRW 2,300 per share for gross proceeds of KRW 3,000,000,400. The transaction will include participation from KNOTUS Co.,Ltd for 1,304,348 shares. The shares are restricted to a hold period of one year. The method of capital is through third party allocation increase. The transaction has been approved by shareholders of the company. The transaction is expected to close on February 9, 2023.