Jaanhbio, Inc. (KOSDAQ:A221610) announced a private placement of series 7 non-guaranteed private convertible bonds for gross proceeds of KRW 2,500,000,000 on May 24, 2021. The transaction will include participation from Hyung-yoon Jang. The surface interest of this bond is 0%, and there is no separate interest payment due date. The bonds have a maturity date of June 30, 2026. The bonds are fully convertible into 163,430 for 2.45% stake in the company at a conversion price of KRW 15,297 per share during a period starting from June 30, 2022 and ending on May 30, 2026. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 26, 2021. All securities to be issued pursuant to the transaction are subject to a hold period of one year.