MEDICOX Co., Ltd. announced a private placement of series 21 of unsecured private convertible bonds with bearer type interest for gross proceeds of KRW 10,000,000,000 on December 27, 2022. The transaction will include participation from L-Bio Production Activation Equity No. 1. The bonds will carry a interest rate of 8% and will mature on March 31, 2026.

The bonds are 100% convertible into 2,800,336 shares at an conversion price of KRW 3,571 per share. The bonds will start conversion from March 31, 2024 and end on Feb 28, 2026. The transaction is expected to close on March 31, 2023.