PeopleBio, Inc. announced a private placement of 423,872 convertible preference shares at the price of KRW 23,592 per share for gross proceeds of KRW 9,999,988,224, round 5 kinds non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000, for total proceeds of KRW 19,999,988,224 on July 1, 2021. The transaction included participation from a private equity investment company to be established by existing investor UTC Investment Co., Ltd. The par value per share is KRW 500. The capital increase would be done through third party allocation. The bond maturity date is August 27, 2026 and will be converted into 377,586 shares comprises 3.11% stake at the conversion price of KRW 26,484 per share. The surface interest rate and maturity rate on bonds is 0%. The conversion period will start from August 27, 2022 to July 27, 2026. The transaction has been approved by the board of directors of the company. The subscription date is July 5, 2021 and payment date are August 27, 2021.