Korea Bio-Gen Co., Ltd. (KOSDAQ:A318000) announced that it will issue series 3 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 5,000,000,000 on May 10, 2021. The transaction will include participation from Core Mezzanine PJT Hedge Fund 2 for KRW 3,000,000,000 and existing investor Daegyeong Investment Co., Ltd. for KRW 2,000,000,000. The bonds does not bear any interest and matures on May 12, 2026. The bonds are convertible into 542,299 shares at a fixed conversion price of KRW 9,220 per share from May 12, 2022 to April 12, 2026. The expected subscription and payment date is May 12, 2021. The transaction is approved by the board of directors of the company.