Ildong Holdings Co., Ltd. announced a private placement of Series 1 unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 30,000,000,000 on November 15, 2022. The transaction will include participation from other investor Kb Bio Private Equity Fund IV Ltd. The bonds will carry yield to maturity at 2.95% and will mature on November 30, 2025. The bonds are 100% convertible into 1,149,425 common shares at a conversion price of KRW 26,100 with the conversion period from November 30, 2023 to October 30, 2025.

The transaction has been approved by the board of directors of the company and is expected to close on November 30, 2022.