Medifron DBT Co., Ltd. announced a private placement of series 12 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on August 22, 2022. The bonds carry 0% coupon rate, 0% yield to maturity, and will mature on August 24, 2027. The bonds are 100% convertible into 1,784,651 common shares of the company representing 3.93% stake, at a fixed conversion price of KRW 1,681 per share from August 24, 2023 till July 24, 2027.

The subscription and payment date for the bonds is August 24, 2022. The transaction has been approved by the board of directors of the company. The bonds will be subject to a hold period of one year.