CANARIABIO Inc. announced a private placement of series 7 unsecured privately placed convertible bond with unregistered interest for gross proceeds of KRW 10,000,000,000 on January 13, 2023. The transaction will include participation from AT semicon Co., Ltd. The series 7 bonds will bear surface interest rate of 0% and interest rate to maturity of 4%. The bonds will mature on January 13, 2026.

The bonds will be convertible at a conversion rate of 100%, into 690,655 number of shares at a conversion price of KRW 14,479 per share. The conversion period will start from January 13, 2024 to December 13, 2025. The bonds are restricted to a hold period of 1 year.

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