BioInfra Life Science Inc. (XKON:A266470) announced a private placement of 545,452 convertible preferred shares to be issued at a price of KRW 5,500 per share for gross proceeds of KRW 2,999,986,000 on May 17, 2021. The face value of shares is KRW 500. The transaction will include participation from new investors Korea Investment Bio-Global Fund and Korea Investment SEA-CHINA Fund, funds managed by returning investor, Korea Investment Partners Co. Ltd. for 181,818 shares each, Skywork Canonico Professional Investment Type Private Equity Trust No. 1, a fund managed by Skywalk Asset Management Co., Ltd. for 134,545 shares, Skywork Canonico Professional Investment Type Private Equity Trust No. 2, a fund managed by Skywalk Asset Management Co., Ltd. for 38,181 shares, and Skywork Subace Professional Investment Type Private Equity Trust No. 1, a fund managed by Skywalk Asset Management Co., Ltd. for 9,090 shares. The company will issue shares through third party allocation increase method. The preferred shares are convertible into common shares at a conversion ratio of 1 per share. The conversion request period for the shares starts from June 17, 2021 and ends on June 16, 2031. The shares are issued at a premium of 85%. The payment date of the transaction is June 16, 2021. The transaction has been approved by the board of directors of the company, attended by two outside directors. The shares will be subject to hold period of one year.