HLB Therapeutics Co.,Ltd. announced a private placement of series 15 non-guaranteed private placement convertible debentures for the gross proceeds of KRW 2,500,000,000 on June 16, 2023. The transaction included participation from new individual investors Lee Jae Eun for KRW 897,000,000, Lee Pil Hyung for KRW 662,000,000, Lee Chan Hyung for KRW 364,000,000, Kim Hee Jung for KRW 358,000,000, Gong NA Jeong for KRW 60,000,000, Lee Ye Jin for KRW 53,000,000, Lee Seun Eon for KRW 53,000,000 and Lee Joo Won for KRW 53,000,000. The debentures will carry a coupon rate of 0% and maturity rate of 1% and will mature on June 16, 2026.

The debentures are fully convertible into 485,531 common shares at a conversion price of KRW 5,149 per share from June 16, 2024 to May 15, 2026. The debentures are restricted to a hold period of 1 year from the date of issuance.