NEORIGIN Co., Ltd. announced a private placement of series 11 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 7,000,000,000 on November 14, 2022. The transaction will include participation from Gil & Partners Co., Ltd. The bonds will carry coupon rate of 4% with interest to maturity of 10%. The bond maturity date is January 13, 2026.

The bonds are fully convertible into 10,309,278 common shares from January 13, 2024 to December 13, 2025 at a fixed conversion price of KRW 679 per share. The subscription date and the payment date for the transaction is November 16, 2022. The transaction has been approved by board of directors of the company.

The securities carry a hold period of one year.