INBIOGEN CO.,Ltd announced a private placement of 15,957,447 convertible preferred shares at KRW 1,880 per share for gross proceeds of KRW 30,000,000,360 on August 8, 2022. The transaction will include participation from new investor Scan No. 1 Association.

The transaction is by way of third party capital increase. The payment date for the shares is expected on October 28, 2022. The transaction has been approved by board of directors of the company.

The preferred shares are registered and 100% convertible from October 29, 2023 - September 29, 2032. The convertible preferred shares are issued at 10% discount.