Nature Cell announced on the 22nd that it held a board of directors meeting and resolved to issue KRW 17 billion worth of its 5th unregistered, rights-attached, unguaranteed private convertible bonds (CB).

The specific utilization plan for the raised funds is as follows. KRW 7 billion will be allocated to operating funds, including research and development costs for cell therapy products. The remaining KRW 10 billion will be used to acquire securities of other entities, and is expected to be invested in the construction of a production facility at the U.S. Baltimore Global Campus through its key subsidiary, 'Nature Cell America Inc.' The company plans to make a separate disclosure in accordance with relevant regulations when acquiring the subsidiary's securities in the future.

The payment date for these convertible bonds is August 7, with a maturity date of August 7, 2029. The nominal interest rate has been set at 0%, while the maturity interest rate has been set at 6% per annum.

The conversion price has been set at KRW 24,307 per share, and may be adjusted in response to market price fluctuations. The minimum adjustment price has been set at KRW 17,015, which is 70% of the initial conversion price. The conversion request period runs from August 7, 2027 to July 7, 2029. The number of common shares issuable upon conversion is 699,386 shares, representing 1.09% of the total issued shares.

The conditions for redemption and put/call options are as follows. Bondholders may exercise their early redemption put option every three months starting from August 7, 2027, which marks one year from the issuance date. Meanwhile, the company may exercise its call option within a range of up to 60% of the total issuance amount, from one year after the issuance date to the two-year mark, in which case the acquired convertible bonds must be immediately redeemed and cancelled.

Meanwhile, there are a total of 15 investors in this private convertible bond issuance.