Biolog Device Co., Ltd. announced a private placement of series 6 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 10,000,000 on September 7, 2022. The transaction will include participation from new investor Lotus Fund 1. The bonds have surface interest rate of 3% and maturity rate of 3%. The bonds will mature on November 8, 2025.

The bonds are convertible into 7,320,644 shares equal to 14.77% stake in the company at a conversion value of KRW 1,366 from November 8, 2023, to October 8, 2025. The payment date is November 8, 2022. The transaction has been approved by the board of directors.

The securities carry a hold period of one year.