L&K Biomed Ltd. announced a private placement to issue Series 10 Bearer-Bearing Interest-Bearing Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000 on May 7, 2024. The transaction will include participation from new investors NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 1) for KRW 800,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 2) for KRW 1,800,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 3) for KRW 900,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 4) for KRW 1,400,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 5) for KRW 1,360,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 6) for KRW 1,500,000,000, Samsung Securities Co.,Ltd. (in the position of trustee of Fund 7) for KRW 240,000,000, NH Investment & Securities Co., Ltd. (in the position of trustee of Fund 8) for KRW 1,000,000,000, KB Securities Co.,Ltd (in the position of trustee of Fund 9) for KRW 1,000,000,000, STILSP L&K New Technology Fund for KRW 5,000,000,000, EBEST Investment & Securities Co., Ltd. for KRW 2,000,000,000, Axis Investment Co., Ltd. for KRW 1,000,000,000, BNK Securities Co.,Ltd. for KRW 1,000,000,000 and Shinhan Investment & Securities Co., Ltd. for KRW 1,000,000,000. The bonds are 100% convertible into 2,206,531 shares at a fixed conversion price of KRW 9,064 from May 9, 2025 to April 9, 2029.

The bonds bear 2% coupon rate, 4% maturity rate and matures on May 9, 2029. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on May 9, 2024.