Life Science Technology Inc. announced a private placement of 518,806 convertible preferred shares at an issue price of KRW 3,855 for proceeds of KRW 1,999,997,130 on December 21, 2022. The transaction will include participation from Kim, Jung Hwan. The preferred stock will be convertible into 516,806 shares.

The repayment period will be from January 30, 2023 and December 29, 2032. The transaction has been approved by the board of directors of the company. The payment date is December 29, 2022.

The company will receive funding through third party allotment.