Prostemics Co., Ltd. announced a private placement of Series 5 Non-guaranteed Private convertible bonds with Bearer Type Interest Part for gross proceeds of KRW 500,000,000 on August 24, 2022. The round will include participation from new investor, Miho Fund. The bonds have a coupon rate of 2% and will mature on August 25, 2025 with maturity rate of 4%.

The bonds are 100% convertible into 2,645,502 shares at a conversion price of KRW 1,890 per share and having a conversion period beginning on August 25, 2023 and ending on July 25, 2025. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 25, 2022.