NEXTURNBIOSCIENCE Co., Ltd. announced that it expects to receive KRW 9 billion in funding from Flask Co., Ltd., GLK Equity Investment Co., Ltd., SAMSUNG PHARM. Co., LTD., CMG Pharmaceutical Co., Ltd.

NEXTURNBIOSCIENCE Co., Ltd (KOSDAQ:A089140) announced a private placement of series 5 Unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 9,000,0000,000 on June 13, 2023. The transaction included the participation from new investors CMG Pharmaceutical Co., Ltd., for KRW 6,000,000,000, GLK Equity Investment for KRW 1,000,000,000, SAMSUNG PHARM. Co., LTD., for KRW 1,000,000,000 and Flask Co.

Ltd for KRW 1,000,000,000. The bonds have a coupon rate of 1% and yield to maturity rate of 3% maturing on August 7, 2026. The bonds will be fully convertible into 928,122 common shares at an issue conversion price of KRW 9,697 per share between the period starting from August 7, 2024 and ending on July 7, 2026.

The transaction is expected to close on August 7, 2023.