Next Bt Co., Ltd. announced a private placements of 18th unregistered coupon no-guaranteed convertible private bonds for gross proceeds of KRW 6,000,000,000 on November 29, 2021. The transaction will include participation from Dk Life Science Co., Ltd., for KRW 1,500,000,000, HUG Co., Ltd. (Heritage upon Generation) for KRW 1,000,000,000, K-Bridge 1 Startup Investment Association for KRW 500,000,000, and returning investor Bioleaders Corporation for KRW 3,000,000,000. The transaction has been approved by the board of directors of the company.

The maturity interest rate is 2% and the surface interest rate is 1%. The bond maturity date is December 1, 2026. The bonds are fully convertible at a price of KRW 1,434 per share.

The conversion starts on December 1, 2022 and ends on November 1, 2026. The payment date is December 1, 2021. The bonds have a hold period of 1 year, post the closing of the transaction.