INBIOGEN CO.,Ltd announced a private placement of 8,086,254 convertible preferred shares at KRW 3,710 per share for gross proceeds of KRW 30,000,002,340 and series 8 unregistered coupon nonguaranteed private convertible bond gross proceeds of KRW 30,000,000,000 and total proceeds of KRW 60,000,002,340 on November 24, 2021. The transaction will include participation from BSM 1 Fund for bonds and existing investor Bucket Studio Co., Ltd. for preferred shares. The preferred shares will be issued through third party allocation, have conversion price of KRW 3,710 per share and have restriction period of one year.

The bonds will mature on February 07, 2025 and will carry 1% interest coupon and 2% yield to maturity. The bonds will be fully convertible into the 7,232,401 registered common stock of the company at a conversion price of KRW 4,148 per share. The conversion period of the bonds will be from February 07, 2023 to January 07, 2025.

The bond transaction is expected to close on February 07, 2022 and subscription date is November 26, 2021. The bonds are subject to a hold period of one year. The payment date for the shares is expected on January 27, 2022 and expected date of issuance is February 16, 2022.

The transaction has been approved by board of directors of the company.