DRTECH Corporation announced a private placement of 5,000,000 registered convertible preference shares at a price of KRW 1,705 for gross proceeds of KRW 8,525,000,000 on June 15, 2022. The transaction will include participation from Osstem Implant Co., Ltd. The convertible preference shares will be fully convertible into 5,000,000 shares representing 18.34% stake at a fixed conversion price of KRW 1,720 from June 25, 2023 to June 23, 2027. The company issued share through 3rd party allocation increase.

The payment date of the transaction is June 23, 2022. The transaction was approved by the board of directors of the company. The securities issued pursuant to the transaction have a hold period of 1 year.

The sureties issued at a par value of KRW 100.