Solco Biomedical Co., Ltd. announced a private placement of series 13 bearer-bearing interest-bearing unsecured private convertible bonds for gross proceeds of KRW 900,000,000 on November 24, 2023. The bonds bear an interest rate of 2%, yield to maturity of 4%, are issued at par and will mature on November 24, 2028. The bonds are fully convertible into 1,800,000 common shares at a conversion price of KRW 500 per share from November 24, 2024 to October 24, 2028.

The bonds are restricted to a hold period of one year. The transaction has been approved by the board of directors of the company. The transaction included participation from new individual investors Cheol-woong Park for KRW 400,000,000; Moon-kyung Do for KRW 200,000,000, Geon Choi for KRW 100,000,000, Hoon Kim for KRW 100,000,000, Gyu-seok Nam for KRW 50,000,000, Dohyun Nam for KRW 50,000,000.