BioInfra Life Science Inc. (XKON:A266470) announced a private placement of 818,179 convertible preferred shares of face value, KRW 500 at a price of KRW 5,500 per share for gross proceeds of KRW 4,499,984,500 on June 15, 2021. The transaction will include participation from SBI Scale-Up Fund, a fund managed by SBI Investment KOREA Co., Ltd. (KOSDAQ:A019550) for 272,727 shares, DSC Initial Coporate Scale-up Fund, a fund managed by DSC Investment Inc. (KOSDAQ:A241520) for 363,636 shares and Skywalk Canonico Hedge Fund 1, Skywalk Canonico Hedge Fund 2, Skywalk Sub-Ace Hedge Fund 1, funds managed by Skywalk Asset Management Co., Ltd. for 134,545 shares, 38,181 shares and 9,090 shares respectively. The company will issue shares through third party allocation increase method.

The shares carry interest rate of 0% per annum and are participatory and cumulative. The preferred shares are convertible into 818,179 common shares from June 24, 2021 to June 23, 2031. The payment date of the transaction is June 23, 2021 and expected date of issuance is July 7, 2021.

The transaction has been approved by the board of directors of the company.