WooGene B&G Co., Ltd announced a private placement of series 5 Unsecured privately placed convertible bonds with bearer interest for proceeds of KRW 8,000,000,000 on March 21, 2023. The transaction will include participation from Happy Pet Life Care New Technology Fund 1. The interest rate is zero rate and will mature on March 23, 2026. The bonds will be 100% convertible into 5,586,592 shares at an conversion price of KRW 1,432 per share.

The conversion will start from March 23, 2024 and will end on Feb 23, 2026. The transaction is expected to close on March 23, 2023. The transaction was approved by the board of directors of the company.