GenNBio Inc. announced a private placement of series 19 non-guaranteed private convertible bonds with bearer type interest part for total gross proceeds of KRW 12,000,000,000 on September 26, 2022. The transaction will include participation from new investor, Meritz Securities Co., Ltd. The series 19 bonds carry an annual coupon rate of 2% and will mature on September 29, 2025 having yield to maturity of 7.5%. The bonds are fully convertible into 7,570,977 common shares at a conversion price of KRW 1,585 per share and will be convertible between the period of September 29, 2023 and September 29, 2025.

The subscription date is September 26, 2022 and expected date of payment is September 29, 2022. The transaction has been approved by board of directors of the company.