PHARMARESEARCH BIO Co., Ltd. announced a private placement to issue Series 5 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 10,000,000,000 on February 19, 2024. The transaction will include participation from new investor, Shinhan Capital Co., Ltd. The bonds will be 100% convertible into 354,082 shares at a conversion price of KRW 28,242 per share for a period starting from February 22, 2025 and ending on January 22, 2029. The bonds will mature on February 22, 2029.

The transaction is expected to close on February 22, 2024. The transaction has been approved by the board of directors of the company.