Daewon Pharmaceutical Co., Ltd. (KOSE:A003220) announced that it will issue series 16 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 12,000,000,000 on May 20, 2021. The bonds will be issued at par. The transaction will include participation from SUSUNG ASSET MANAGEMENT Co., Ltd. and KB Securities Co., Ltd., Investment Arm. The bonds will bear zero coupon. The bonds will mature on May 24, 2026. The bonds are convertible into 721,544 common shares at a fixed exchange price of KRW 16,631per share from May 24, 2022 to April 24, 2026. The date of subscription and expected date of payment is May 24, 2021. The transaction is approved by the board of directors of the company.