Hwail Pharmaceutical Co.,Ltd. (KOSDAQ:A061250) announced a private placement of 2,000,000 common shares issued at a price of KRW 10,010 per share for gross proceeds of KRW 20,020,000 on July 30, 2020. The transaction will include participation from DiNonA Inc. (XKON:A086080). The par value of the shares is KRW 500 per share.

The shares will be issued at a premium. The shares will be issued on third-part allotment basis. The shares are subject to a hold period of one year.

The company expects to close the transaction on September 29, 2020. The transaction was approved by the board of directors of the company.