NGeneBio Co., Ltd. announced that it expects to receive KRW 20 billion in funding from SK Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, and other investors.

NGeneBio Co., Ltd. announced a private placement of 3rd Bearer Type No Interest No Guarantee Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000 on August 30, 2022. The bonds are zero coupon and zero yield to maturity. The bonds will mature on September 1, 2027 and are convertible into common shares at KRW 9,290.

The subscription and payment date is on September 1, 2022. The transaction will include participation from IBK Financial Group Synergy IB Business Reorganization New Technology Fund, SK Securities Co., Ltd., Shinhan Investment Corp. for KRE 1 ,000,000,000 each and other investors.