CANARIABIO Inc. closed a private placement of series 6 unsecured privately placed convertible bond with unregistered interest for gross proceeds of KRW 10,000,000,000 on December 28, 2022. The transaction will include participation from returning investor CANARIABIO Inc. The bonds will bear surface interest rate of 2% and interest rate to maturity of 3.5%. The bonds will mature on December 28, 2025.

The bonds will be will convertible at a conversion rate of 100%, at a conversion price of KRW 14,238 for 702,345 number of shares. The conversion period will start from December 28, 2023, to November 28, 2025. The transaction has been approved by board of directors of the company.