CANARIABIO Inc. announced a private placement of series 5 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 20,000,000,000 on November 15, 2022. The transaction included participation from CANARIABIO M Inc. The series 5 bonds will carry a coupon rate of 2% and will mature on December 15, 2025. The bonds will be 100% convertible into 1,310,959 common shares at a price of KRW 15,256.

The bonds will mature on December 15, 2025. The conversion period will start from December 15, 2023 to November 15, 2025. The payment date of the transaction is December 15, 2022.

The transaction has been approved by the board of directors of the company.