ABL Bio Inc. announced a private placement to issue 5,778,196 Nominated Convertible Preferred Stock at an issue price of KRW 24,229 per share for the gross proceeds of KRW 139,999,910,884 on July 2, 2024. The transaction will include participation from new investors Korea Development Bank 2,063,642 shares, Atinum Growth Fund 2023 (Atinum Investment Co., Ltd.) 1,238,185 shares, Intervest Deep Tech Fund (Intervest Co., Ltd.) 1,238,185 shares, Hana Beyond Finance Fund (Hana Ventures Co., Ltd., Hana Securities Co., Ltd.) 536,547 shares, Hana Investment Banking & Securities Inc. 82,545 shares, IBK - Company K Innovation Growth Fund (Company K Partners Co., Ltd.) 251,447 shares and Company K New Deal Fund (Company K Partners Co., Ltd.) 367,645 shares. The shares are 100% convertible into 5,778,196 common shares at a fixed conversion price of KRW 24,229 from July 12, 2025 to July 11, 2029.

The transaction has been approved by shareholders of company, restricted to a hold period and is expected to close on July 11, 2024. The shares will mature on July 11, 2029.