Kainos Medicine, Inc. (KOSDAQ:A284620) announced that it will issue series 2 unregistered unguaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on June 26, 2020. The bonds will be issued at par. The transaction will include participation from KB Securities Co., Ltd., Asset Management Arm for KRW 5,000,000,000, SC United Co., Ltd. for KRW 5,000,000,000, and existing investor, NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 10,000,000,000.

The bonds will bear fixed interest rate of 1% per annum. The bonds will mature on June 30, 2025. The bonds are convertible into 3,440,564 common shares at a fixed conversion price of KRW 5,813 per share from June 30, 2021 to March 30, 2025.

The date of subscription is June 30, 2020 and expected date of payment is June 30, 2020. The transaction is approved by the board of directors of the company.