InnoTherapy, Inc. (KOSDAQ:A246960) announced a private placement of 2nd series non-guaranteed private convertible bonds for gross proceeds of KRW 7,500,000,000 and 524,503 convertible preferred stock issued at an issue price of KRW 14,299 for gross proceeds of KRW 7,499,868,397 for total proceeds of KRW 14,999,868,397 on April 1, 2021. The face value of each share is KRW 500. The transaction will include participation from new investors, Daishin New Technology Fund No.

6 for KRW 5,000,000,000, funds managed by Samsung Securities Co. Ltd., Investment Arm for KRW 1,200,000,000, funds managed by KB Securities Co., Ltd. for KRW 550,000,000, fund managed by Korea Investment & Securities Co., Ltd., Investment Arm for KRW 270,000,000, fund managed by Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 30,000,000 and fund managed by HisStory Investment Management for KRW 450,000,000 for bonds as well as Samsung Securities Co. Ltd., Investment Arm for 83,920 shares; KB Securities Co., Ltd. for 38,463 shares; Korea Investment & Securities Co., Ltd., Investment Arm for 18,882 shares; Mirae Asset Daewoo Co., Ltd., Investment Arm for 2,098 shares; His-Story Investment Co.,Ltd. for 13,986 shares; Korea Securities Finance Corporation, Investment Arm for 139,868 shares; and Shinhan Bank, Investment Arm for 209803 shares.

The bonds does not carry any coupon rate and yield to maturity and would mature on April 09, 2026. The bonds will be fully convertible into 454,352 shares at a fixed conversion price of KRW 16,507 per share between the period of April 09, 2022 to March 09, 2026. The subscription and the payment date for bonds is April 5, 2021 and April 9, 2021 respectively.

The payment date for shares is April 9, 2021. The transaction has been approved by the board of directors of the company. The company will issue shares pursuant to third party allocation increase method.

The conversion period of the shares is from April 10, 2022 to April 09, 2026. The shares are convertible into common shares at a conversion price of shares is KRW 14,299. The shares are issued at 10% discount.

The shares are subject to a lock-up period of 1 year.