PeopleBio, Inc. announced a private placement of 499,583 common shares at an issue price of KRW 10,809 per share for the gross proceeds of KRW 5,399,992,647 on June 21, 2023. The transaction will include participation from new individual investors Kang Sung Min for 277,546 shares, Cho Dae Wonfor 166,528 shares and Kim Shinwon for 55,509 shares. The shares are restricted to a hold period of 1 year.

The transaction has been approved by the shareholders of the company. The transaction is expected to close on June 29, 2023.