Plumbline Life Sciences, Inc. announced a private placement of series 3 unregistered coupon nonguaranteed unsecured private placement convertible bonds for gross proceeds of KRW 400,000,000 and 34,000 convertible preferred shares at a price of KRW 1,000 per share at a premium of 31.68% for gross proceeds of KRW 340,000,000 and aggregate gross proceeds of KRW 740,000,000 on December 27, 2021. The transaction included participation from Mi-seop So for KRW 200,000,000, Yongmi Kwon for KRW 100,000,000, Youngmi Lee for KRW 100,000,000 for bonds and Kwon, Nam-hee for 1,500 shares, Chang, Yongsik for 1,500 shares, Park, In-jeong for 1,000 shares, existing investors Choi, Kwang-woo for 20,000 shares and Cho, Jeonghyeong for 10,000 shares. The bonds will carry coupon rate of interest of 4% per annum and maturity rate of 5%. The bonds will mature on January 4, 2025. The bonds are convertible into 40,000 shares of the company at a conversion price of KRW 10,000 per share. The conversion period will start from January 4, 2023 and ends on December 4, 2024. The transaction is by way of third party capital increase. The preferred shares are convertible into 34,000 common shares from January 5, 2022 to January 4, 2027. The expected date of payment for bonds is January 3, 2022 and for shares is January 4, 2022. The transaction has been approved by the board of directors of the company.