Plumbline Life Sciences, Inc. announced a private placement of series 6 Unsecured unsecured privately placed convertible bonds with bearer interest for a gross proceeds of KRW 50,000,000 on April 6, 2023. The transaction will include participation from Joohyung Jo for KRW 30,000,000, Won-young Jo for KRW 20,000,000. The bonds have maturity rate of 0%.

The bonds will mature on Apr 07, 2026. The bonds will be 100% converted into 8,912 common shares at a fixed conversion price of KRW 5,610 per share for an equity stake of 0.27%. The conversion period is from Apr 07, 2024 to March 08, 2026.

The payment date of the transaction is April 7, 2023. The transaction has been approved by the board of directors of the company.