Neofect Co.,Ltd announced a private placement to issue 4,537,205 shares at an issue price of KRW 1,102 per share for the gross proceeds of KRW 4,999,999,910 on December 6, 2023. The transaction will include participation from returning investor, Scandi New Technology Association No. 278 for 4,537,205 shares.

The transaction has been approved by the shareholders of the company and is expected to close on December 26, 2023. The shares are restricted to a hold period of one year.