Korea Arlico Pharm Co.,Ltd. announced a private placement of series 3 bearer-bearing interest-bearing, unsecured private placement convertible bonds for a gross proceeds of KRW 10,000,000,000 on November 8, 2023. The transaction will include participation from new investor Kyobo Healthcare New Technology Business Fund No. 1. The bonds have yield to maturity of 1%.

The bonds will mature on November 10, 2028. The bonds will be 100% converted into 1,607,458 common shares at a fixed conversion price of KRW 6,221 per share for an equity stake of 9.49%. The conversion period is from November 10, 2024 to October 10, 2028.

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.