Pharmicell Co., Ltd. (KOSE:A005690) announced a private placement of Series 2 Unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 22,000,000,000 on June 10, 2021. The transaction will include participation from funds managed by Samsung Securities Co. Ltd., Investment Arm for KRW 9,500,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,000,000,000, Mirae Asset Securities Co., Ltd. (KOSE:A006800) for KRW 2,000,000,000, KB Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Small and Medium Business Bank for KRW 3,000,000,000 and Hanyang H-M New Technology Business Fund for KRW 2,500,000,000.

The bonds will mature on June 14, 2026. The bonds are zero coupon bonds with no yield to maturity and are being issued at par. The bonds are 100% convertible into 1,276,398 common shares representing 2.08% stake at a conversion price of KRW 17,236 per share.

The conversion period will start from June 14, 2022 and end on May 14, 2026. The securities issued in the transaction are subject to one year hold period. The transaction has been approved by the board of directors of the company.

The subscription and payment date is on June 14, 2021.