L&C BIO Co., Ltd (KOSE:A290650) announced a private placement of 1st unregistered unguaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on March 6, 2020. The bonds being issued are 100% convertible into 179,533 shares of the company representing 2.35% of the total shares at a conversion price of KRW 55,700 per share starting March 16, 2021 till February 16, 2023. The payment date of the transaction is March 16, 2020. The bonds are prohibited from exercise of conversion rights and division of rights for one year from date of issue. The transaction involved participation from Global Bio Partners for KRW 10,000,000,000. The bonds will bear an interest rate of 0% per annum. The transaction has been approved by the board of directors of the company. The bonds will mature on March 16, 2023.