KoBioLabs, Inc announced that it will issue 1st unregistered coupon nonguaranteed convertible bond for gross proceeds of KRW 11,000,000,000 and 1,537,922 convertible preferred shares of par value, KRW 500 at a price of KRW 21,750 for gross proceeds of KRW 33,449,803,500; for aggregate gross proceeds of KRW 44,449,803,500 on November 10, 2021. The transaction will include participation from new investors, Meritz Asset One New Technology Finance Association 1 for 344,827 preferred shares, Jaedam Inc. for 45,977 preferred shares, Cornerstone Investment Partners Co., Ltd. for 43,678 preferred shares and other investors. The preferred shares are convertible into 1,537,922 shares from November 19, 2022 to November 18, 2026. The convertible preferred stocks will have a lock up period of one year. The payment date for preferred shares is November 18, 2021. The transaction has been approved by board of directors of the company.