Wellbiotec Co., Ltd. announced a private placement 5,865,102 common shares at an issue price of KRW 1,705 for gross proceeds of KRW 9,999,998,910 on October 22, 2021. The transaction included participation from Atma Investment Association for 3,519,061shares, and Shin-oh Electronic Co.Ltd for 2,346,041shares. The transaction is expected to close on February 18, 2022.

The transaction was approved by board of directors of the company. The securities are issued through third party allocation method. The securities are subjected to one year hold period.