GTG Wellness CO.,LTD (KOSDAQ:A219750) announced that it will issue series 8 unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on March 16, 2022. The transaction will include participation from Iris Union for KRW 5,000,000,000. The bonds carry coupon rate of 2% and maturity rate of 3%.

The bonds will mature on April 20, 2025. The bonds will be issued at par. The bonds are fully convertible into 4,284,490 shares representing 22.42% stake at a fixed conversion price of KRW 1,167 each starting from April 20, 2023 till March 20, 2025.

The payment date is April 20, 2022. The transaction has been approved by the board of directors of the company. The securities issued are subject to one year hold period.