PharmAbcine Inc. announced that it will issue series 2 private unguaranteed private non-separable bonds with warrants for gross proceeds of KRW 10,000,000,000 on April 13, 2022. The bonds will be issued at par. The transaction will include participation from GBA Mezz-A General Private Equity Trust for KRW 500,000,000, GBA Coven-V General Private Equity Trust for KRW 300,000,000, GBA Coven-I General Private Equity Trust (Professional Investor) for KRW 200,000,000, GBA Mezz-V2 General Private Equity Trust for KRW 500,000,000, Suseong KOSDAQ Venture B5 General Private Equity Trust for KRW 1,000,000,000, Suseong KOSDAQ Venture T3 General Private Equity Trust (Professional Investor) for KRW 1,000,000,000, Suseong KOSDAQ Venture B11 General Private Equity Trust for KRW 300,000,000, Suseong KOSDAQ Venture T2 General Private Equity Trust for KRW 700,000,000, Moonchae Galilei KOSDAQ Venture General Private Equity Investment Trust No.

2 for KRW 1,000,000,000, Kiwoom Asset Management Co., Ltd. for KRW 2,000,000,000, Hanyang Securities Co., Ltd. for KRW 500,000,000 and NH Investment & Securities Co., Ltd. for KRW 2,000,000,000. The zero coupon bonds will mature on April 15, 2026. The bonds are convertible into 1,534,919 common shares at a fixed conversion price of KRW 6,515 per share from April 15, 2023 to March 15, 2026.

The date of subscription and expected date of payment is April 15, 2022. The transaction is approved by the board of directors of the company. The bonds are subject to a hold period of one year from the date of issue.