Clinomics Inc. announced a private placement of 381,679 convertible registered preferred stock at an issue price of KRW 7,860 for gross proceeds of KRW 2,999,996,940 on December 1, 2022. The transaction will included participation from TS 2018-12 M&A Fund. The preferred stock bear dividend rate 1.0% per year.

Each preferred stock is convertible into one common shares. The conversion request period is starting from December 17, 2023 till November 17, 2027. The securties to be issued may be participatory or non-participating, cumulative or non-cumulative.

The transaction was approved by the board of directors of the company. The transaction is expected to close on December 16, 2022. The securities to be issued in the transaction will be subject to a 1 year hold period from date of issuance.

The company will issue securities through 3rd party allocation increase method.