Polus BioPharm Inc. (KOSE:A007630) announced a private placement of 6,412,997 common shares at an issue price of KRW 4,678 for gross proceeds of KRW 29,999,999,966 on December 28, 2018. The shares are issued at premium having a face value of KRW 500. The company will issue shares through a third-party allotment method. The payment date is January 31, 2019. The transaction will include participation from existing investor Polus Holdings Co., Ltd. The shares issued in the transaction will be subject to a hold period of one year. The transaction has been approved by the board of directors of the company.