Medifron DBT Co., Ltd. announced that it expects to receive KRW 10.999994602 billion in funding from Brain Contents CO., LTD. Global Tax Free Co., Ltd.

Medifron DBT Co., Ltd. (KOSDAQ:A065650) announced a private placement of 2,850,478 shares at a price of KRW 3,859 per share for gross proceeds of KRW 10,999,994,602 on February 20, 2020. The transaction will include participation from Brain Contents CO., LTD. (KOSDAQ:A066980) for 1,295,672 shares and Global Tax Free Co., Ltd. (KOSDAQ:A204620) for 1,554,806 shares. The shares will be issued at a premium.

The shares will be issued through third party allocation method. The shares will have a lock up period of one year. The payment date is April 17, 2020.

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