Precision Biosensor, Inc. announced a private placement to issue Series 3 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 3,000,000,000 on February 6, 2024. The transaction will include participation from new investors Shinhan Investment & Securities Co., Ltd. for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. (In the fiduciary position of Fund 1) for KRW 500,000,000 and JB Mezzanine New Technology Business Investment No. 2 for KRW 1,500,000,000.

The bonds bear zero coupon rate and 3% maturity rate and matures on February 9, 2029. The transaction has been approved by the shareholders of the company and is expected to close on February 8, 2024. The bonds are 100% convertible into 596,658 shares at a fixed conversion price of KRW 5,028 from February 8, 2025 to January 8, 2029.