AbClon Inc. announced that it will issue Unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on July 26, 2022. The bond is convertible into one common stock for a period of 5 years from issue date starting from September 22, 2023 to August 22, 2027 at a conversion value of KRW 11,398. The expected payment date is September 22, 2022.

The transaction has been approved by the board of directors of the company. The transaction will include participation from Quad Investment Management Corp.