Bioleaders Corporation announced a private placement to issue Series 11 Bearer-Bearing Interest-Bearing, Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 15,000,000,000 on March 14, 2024. The transaction will include participation from new investor Rossam Co., Ltd. for the KRW 15,000,000,000. The bonds are 100% convertible into 6,255,212 shares at a fixed conversion price of KRW 2,398 from April 15, 2025 to March 15, 2027.

The transaction has been approved by the shareholders of the company and is expected to close on April 15, 2024. The bonds bear 3% coupon rate and 7% maturity rate and matures on April 15, 2027. The securities are restricted to a hold period.