CMG Pharmaceutical Co., Ltd. announced a private placement of series 4 unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 14,600,000,000 on March 27, 2023. The transaction will include participation from Forward-NBH New Technology Business Fund No. 1. The bonds carry a coupon rate of 0% and yield to maturity of 1.5% and will mature on March 28, 2026.

The bonds are fully convertible into 6,965,648 common shares at a conversion price of KRW 2,096 per share from March 29, 2024 to February 28, 2026. The bonds are restricted to a hold period of 1 year from the date of issuance. The transaction has been approved by shareholders of the company.

The transaction is expected yo close on March 28, 2023.