Sejong Medical Co., Ltd. announced a private placement of 8,038,585 common shares at a price of KRW 2,488 per share for gross proceeds of KRW 19,999,999,480 on November 7, 2022. The transaction will include participation from returning investor, CANARIABIO M Inc. The company will issue securities through 3rd party allocation increase method. The transaction has been approved by board of directors of the company.

The company is expected to close the transaction on January 31, 2023.