NEORIGIN Co., Ltd. announced a private placement of series 10 unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 3700,000,000 on November 14, 2022. The transaction included participation from new individual investors Cho, Myung-je for KRW 1,500,000,000, Jeong, Dae-taek for KRW 1,000,000,000, Kim, Geun-young for KRW 200,000,000, and returning individual investor Geum, Sangyeon for KRW 1,000,000,000. The bonds will carry coupon rate of 4% with interest to maturity of 8%.

The bond maturity date is November 16, 2025. The bonds are fully convertible into 5,449,189 common shares from November 16, 2023 to October 16, 2025 at a fixed conversion price of KRW 679 per share. The subscription date and the payment date for the transaction is November 16, 2022.

The transaction has been approved by board of directors of the company. The securities carry a hold period of one year.