Biolog Device Co., Ltd. announced a private placement of 20,345,877 common stock at a price of KRW 983 for the gross proceeds of KRW 19,999,997,091 on June 29, 2023. The transaction will include participation from new investors Cube Entertainment, Inc. for 3,560,528 shares, S&BJ Co., Ltd. for 762,970 shares, and Keoshin Co., Ltd. for 762,970 shares. The first payment date for the transaction is July 7, 2023, and second payment date for the transaction is September 11, 2023.

The common shares to be issued will have a hold period of one year. The transaction has been approved by the shareholders of the company. The shares will be allotted through third party method of allocation.