CANARIABIO Inc. announced a private placement of series 4 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 30,000,000,000 on November 15, 2022. The transaction included participation from returning investor, CANARIABIO M Inc. The series 4 bonds will carry a coupon rate of 2% and yield to maturity is 3.5%. The bonds will mature on November 30, 2025.

The bonds will be 100% convertible into 1,966,439 common shares at a price of KRW 15,256. The conversion period will start from November 30, 2023 and October 20, 2025. The transaction has been approved by the board of directors of the company.

The payment date of the transaction is November 30, 2022.