Hanchang Biotech Co., Ltd. announced a private placement of round 20 Non-guaranteed Private convertible bonds with Bearer Type Interest Part for gross proceeds of KRW 15,000,000,000 from Exergy21.Inc on August 4, 2022. The company will issue bonds at par. The bonds will carry 0% coupon rate, 3% yield to maturity rate, will mature on September 15, 2025 and will be 100% convertible into 6,337,135 common shares of the company at a fixed conversion price of KRW 2,367 per share from September 15, 2023 to August 15, 2025.

The expected date of payment is September 15, 2022. The company is issuing shares through third-party allocation. The date of subscription is August 04, 2022.

The transaction is approved by the board of directors of the company. The company has announced the payment date of October 17, 2022.