Plumbline Life Sciences, Inc. announced a private placement of series 1 unsecured private convertible debentures for KRW 1,000,000,000 on March 14, 2019. The transaction will include participation from Sea Zone for KRW 300,000,000, Credit for KRW 300,000,000, Kwang-woo Choi for KRW 200,000,000, So Mi-seop for KRW 100,000,000, and Choi Eungjo for KRW 100,000,000. The bonds will carry no coupon rate and yield to maturity rate of 4%. The debentures are will be convertible into 100,000 common shares of the company at a fixed conversion price of KRW 10,000 per share. The debentures will mature on March 21, 2022. The conversion period starts from March 22, 2020 to March 17, 2022. The payment date is on March 22, 2019. The transaction was approved by board of directors of the company. The transaction is subject to hold period of 1 year.