GL Pharm Tech Corp. (KOSDAQ:A204840) announced a private placement of 1,152,074 common of par value KRW 100 per share, at an issue price of KRW 868 per share for gross proceeds of KRW 1,000,000,232 on September 21, 2020. The transaction will include participation from Kyperion Co., Ltd for all the shares in the transaction. The company will raise the funding through third party allocation method. The total number of shares issued before the transaction is 46,058,145 shares. All securities to be issued in the transaction will be subject to a lock-up period of one year. The transaction was approved by the bard of directors of the company, and is expected to close on September 29, 2020. The securities are issued at 10% per discount.