Bio Protech Inc. announced a private placement of series 14 bearer unguaranteed unsecured private placement convertible bond for a gross proceeds of KRW 500,000,000 on February 9, 2022. The transaction will include participation from Park, Hae-Joon. The bonds have yield to maturity of 3%.

The bonds will mature on February 10, 2027. The bonds will be 100% converted into 625,000 common shares at a fixed conversion price of KRW 800 per share for an equity stake of 7.13%. The conversion period is from February 10, 2023 to January 10, 2027.

The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.