Pharmablock Sciences convertible bonds reach 10% trigger, prompting early redemption

As of August 28, 2025, Pharmablock Sciences (Nanjing)'s "Yaoshi Convertible Bonds" saw a cumulative conversion of 20,717,967 shares, representing 10.38% of the company's total issued share capital prior to conversion. The company still has 4,532,121 "Yaoshi Convertible Bonds" outstanding, accounting for 39.41% of the total issue of 11,500,000 bonds.

This conversion milestone, coupled with the stock price meeting redemption conditions, has triggered a mandatory early redemption. The stock traded above 130% of the conversion price (yuan 43.69 per share) for at least 15 days within 30 consecutive trading days between July 25, 2025, and August 14, 2025. The company's board decided to exercise its right for early redemption, setting the price at yuan 100.62 per bond.

Trading of "Yaoshi Convertible Bonds" will cease on September 15, 2025, and conversion will stop on September 18, 2025, which is also the redemption date. Holders who do not convert their bonds by September 17, 2025, will have their bonds compulsorily redeemed at yuan 100.62 per bond. Investors are advised to be aware of potential losses if they do not convert their bonds in a timely manner, given the current market price difference from the redemption price.