Abpro Bio Co., Ltd. announced a private placement to issue 2% Series 17 Bearer Interest Unsecured Private Placement Convertible Bonds due June 17, 2027 for the gross proceeds of KRW 6,000,000,000 on June 13, 2024. The transaction will include participation from new investors Sangsangin Investment & Securities Co.,Ltd. for KRW 500,000,000, Sangsangin Savings Bank for KRW 4,000,000,000 and Sangsangin Plus Savings Bank Co.,Ltd. for KRW 1,500,000,000. The bonds bear 2% coupon rate, 5% maturity rate and matures on June 17, 2027.

The bonds are 100% convertible into 11,695,906 shares at a fixed conversion price of KRW 513 from June 17, 2025 to May 17, 2027. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on June 17, 2024.