Vivozon Healthcare, Inc. announced a private placement of series 20 bearer type unsecured private placement convertible bonds for gross proceeds of KRW 6,000,000,000 on November 11, 2022. The transaction will include participation from PS Growth Fund. The series 20 bonds will have a coupon rate of 6% and yield to maturity rate of 10%.

The bonds will mature on December 20, 2025 and are fully convertible into 8,119,080 common shares of Bbojo Pharmaceutical Co., Ltd. at an issue conversion price of KRW 739 between the period starting from December 20, 2023 and ending on November 20, 2025. The bond issuance will be through mother-in-law method. The bonds have a stock spin-off and conversion lock-up period of one year.

The transaction has been approved by board of directors of the company. The subscription date is November 11, 2022 and expected date of payment is December 20, 2022.